A project to build a ferroalloy plant is being launched in the Kyrgyz Republic

Today, on May 10, Prime Minister Joomart Otorbayev met with President of POSCO Lee Yong Hunomi and representatives of the National Center for Integrated Processing of Mineral Raw Materials of the Republic of Kazakhstan. This is reported by the Information support Department of the government office.

Otorbayev noted the importance of the delegation's visit on the eve of the opening ceremony of the construction of a ferrosilicoaluminium production plant in Tash-Kumyr.

"We are glad that the implementation of the project will begin tomorrow. The entry and launch of such a large company as POSCO in our country plays an important role. The presence of a world leader in the field of metallurgy in the Kyrgyz market will give additional impetus and have a positive impact on the inflow of foreign investment into the country," the Prime Minister said and added that he highly appreciates the company's desire and efforts to accelerate the commissioning of the plant. According to Otorbayev, the successful implementation of the project involves the subsequent launch of an entire industrial cluster in the south of the republic, including the construction of a magnesium plant and the reconstruction of hydroelectric power plants, which will directly affect the socio-economic development of the region and the economy as a whole.

It was noted that the Government, represented by the Ministry of Economy of the Kyrgyz Republic, is ready to provide all possible assistance in the implementation of joint initiatives.

The Prime Minister separately thanked the company's representatives for their cooperation in the field of education, in particular, for providing scholarships to Kyrgyz students.

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The project to build a ferroalloy plant in Tash-Kumyr was initiated in accordance with an intergovernmental memorandum signed during the Kyrgyzstan-Kazakhstan business forum on July 11, 2007 in order to expand mutually beneficial economic cooperation between the Kyrgyz Republic and Kazakhstan, attract foreign direct investment, and increase the export potential of our country. The investment project for the construction of the Kyrgyz ferroalloy plant in Tash-Kumyr for the production of ferrosilicon aluminum is being implemented in accordance with the decree of the Government of the Kyrgyz Republic dated August 23, 2007 "On the construction of a ferroalloy plant in the Kyrgyz Republic." On the Kazakh side, the Republican State Enterprise "National Center for Integrated Processing of Mineral Raw Materials of the Republic of Kazakhstan" under the Ministry of Industry and New Technologies of the Republic of Kazakhstan is responsible for the implementation of the project. The financing of this project is provided by the South Korean company POSCO. The design and estimate documentation is being developed at the RSE "National Center for Integrated Processing of Mineral Raw Materials of the Republic of Kazakhstan".

The design capacity of the plant is 200 thousand tons per year. The project will be implemented in two stages. At the first stage, 2014-2015, one furnace with a capacity of 50 thousand tons of ferroalloy per year will be installed, followed by capacity expansion until 2017 with the installation of three furnaces of 25.5 MVA with a total capacity of up to 200 thousand tons per year of alloy.

Source: www.vb.kg