Britain to invest $ 125 mln to black shales processing in Kyzylorda region
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Britain to invest $ 125 mln to black shales processing in Kyzylorda region

24 November 2016 15:24

Akim of Kyzylorda oblast Krymbek Kusherbayev attended a meeting of the Kazakh-British Intergovernmental Commission on trade-economic, scientific-technical and cultural cooperation in London.

At the meeting, the Commission signed an agreement on realization of the investment project "Autoclave processing of black shales at "Bala sauskandyk" deposit" in Kyzylorda region, the Governor's office reported.

It was decided the investor to finance 125 million dollars for 2 and 3 stages of the project, Strategy 2050 NA reported.

In order to implement this project Kazakhstan will consider the possibility of granting investment preferences in conformity with the requirements established by the legislation of the country.

Currently, "Company "Balausa" LLP, founded by the «Ferro-Alloy Resources Limited» company, carries out work on the production and processing of quartzite at Bala Sauyskandyk deposits in Shieli district.

The construction of the enterprise employs 150 workers, and the operation of the plant - 650 workers.

"We've introduced the latest developments of Russian scientists, which are highly appreciated in the post-Soviet space, and also in foreign countries", - the statement reads.

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