Kazakhstan and China have signed
investment agreements to undertake 45 joint projects worth $5.2 billion. This
was announced during the 7th meeting of the Kazakhstan-China Business Council
in Astana. The projects span diverse sectors including manufacturing,
mechanical engineering, infrastructure, and green energy. Notably, plans
include launching a steam-gas power plant by 2026 and constructing a grain deep
processing plant by 2027. Additionally, a Chinese energy company has expressed
interest in an innovative project focused on recycling and processing household
waste.
«We plan to invest in
constructing a plant in Astana that will generate electricity through the
incineration of household waste, enabling us to process approximately 1.5
tonnes of such waste daily. Our company has undertaken numerous similar
projects worldwide, all adhering strictly to environmental standards.
Currently, we are in negotiations and assessing the financial requirements for
the project, which will be implemented in collaboration with the Astana mayor’s
office,» said Li Zhuoge, Vice President of an energy company in China.
Kazakhstan and China also intend
to launch projects in the field of freight railway transportation, harnessing
the potential of the Trans-Caspian International Transport Route.
«This initiative is expected to
immediately boost trade turnover, presenting a significant opportunity for
Kazakhstan to leverage its transit potential in connecting China and Europe.
One of the reasons investors are drawn to Kazakhstan is precisely because they
are interested in fast and cost-effective delivery of goods through the
country. The figures highlight the growth in trade and economic relations with
China, with last year’s total trade turnover reaching $42 billion,» said
Gabidulla Ospankulov, Chairman of the Kazakh Foreign Ministry’s Investment
Committee.
In 2023, the bilateral trade
volume between the two countries reached a historic record, exceeding $40
billion. Over the years, China has invested over $25 billion in Kazakhstan. To
date, more than 4,000 companies with Chinese capital are registered in the
country.
