ENRC to invest $6bln in Kazakhstan mining industry
The Eurasian Natural Resources Corporation (ENRC) will invest about $6 billion in the mining industry of Kazakhstan, ENRC CEO Felix Vulis said on Wednesday, during his speech at an economic forum of large business.
"Some $6 billion of the $16 billion planned to be invested in the industry on the state program of forced industrial, innovative development accounts for our corporation's investments," Vulis said.
He said that more than a dozen investment projects of the group were included in the industrialisation map.
"It is expected that the capital expenses of the corporation in the country in 2012 will amount to $2 billion," he said.
Eurasian Natural Resources Corporation is one of the leading diversified natural resources groups with integrated mining, processing, energy, logistical and marketing operations.
ENRC production assets are largely located in Kazakhstan. Moreover, the company operates in China, Russia, Brazil and Africa (the Democratic Republic of Congo, Zambia, Mozambique and South Africa). ENRC is the world's largest producer of ferrochrome on a chrome content basis and one of the world's significant iron ore and alumina producers.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!