Chemical joint venture to be established in Almaty within realization of Road Map
ALMATY. July 27. KAZINFORM /Yelena Ilinskaya/ Within the realization of the Road Map and the instructions of the Kazakh President on the development of the chemical industry "Kazfosfat" LTD and "United Chemical Company" as a member of "Samruk Kazyna" Fund signed memo on establishment of a joint venture (JV). As Director General of "Kazfosfat" LTD Mukash Iskandirov said, the JV will be established in order to construct and operate two new productions - an enriching factory of phosphate concentrate with the capacity of 1.5 mln tons per year in Zhanatas town and a plant on production of sulphuric acid with capacity of 650 thousand tons per year in Taraz. The total volume of investments, required for realization of the projects is up to USD 250 mln. The enterprises will be launched by the end of 2011. Construction of the plants using advanced equipment on production of export-oriented products is timely, economically sound and essential step in the development of the chemical industry of Kazakhstan.