Chairman of the Management Board of JSC “NC “KAZAKH INVEST” Yerzhan Yelekeyev met with the management of the Chinese company CHN Energy, during which the parties discussed implementing an investment project for the construction of a coal chemical plant in Kazakhstan.
Earlier this September, a technical delegation from CHN Energy arrived in Kazakhstan to explore cooperation opportunities. During the visit, the company’s delegation visited three coal fields to assess the potential of coal mining regions. Further, in November this year, on the sidelines of the Kazakhstan Round Table on Global Investments (KGIR-2024), the Ministry of Industry and Construction of the Republic of Kazakhstan, KAZAKH INVEST, and CHN Energy signed an agreement on the implementation of a project for the production of carbon chemical products worth $4 billion.
During the meeting, Chinese representatives shared the first results of joint work within the framework of the agreement reached. So, the company decided to open a representative office in Astana.
“Given the significant coal reserves in Kazakhstan and the gradual abandonment of coal-fired energy generation, the coal industry needs a new development strategy. Its key element will be the transition to carbon chemistry, which will open up new opportunities for industry growth and transformation. Currently, the share of products produced from coal in Kazakhstan is only 3%. However, preliminary calculations show that the untapped potential of the industry reaches $25 billion. This indicates significant opportunities for investment and cooperation. I hope that with our support, your company will be able to identify priorities for the effective implementation of the first coal chemistry project in Kazakhstan, which will contribute to the accelerated development of the industry and will allow the export of coal chemical products to China, Central Asia, and Europe,” said Y. Yelekeyev.
Representatives of CHN Energy also expressed their willingness to consider new areas for cooperation, including the construction of renewable energy stations and gas chemical complexes, as soon as the implementation of the coal chemical project reaches a more active phase. At the end of the meeting, the parties agreed to continue active work on the project’s implementation and further strengthen investment cooperation.
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The company is a pioneer leader in the development of the coal chemical industry in China and one of the largest companies in the world for the extraction and processing of coal, as well as the production of thermal and wind energy. CHN Energy’s overseas assets are in South Africa, Australia, Indonesia, Greece and Germany. The company operates 97 coal mines with an annual coal production capacity of 685 million tons. CHN Energy also has 28 coal liquefaction plants, processing raw materials into liquid fuels with a production volume of 5.26 million tons per year and into olefins with a production volume of 3.93 million tons yearly.
Millie James is an American real estate investor and Adjunct Professor in Entrepreneurship, Emeritus at Business School.
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