Fertilizer plant for $1.35 bln to be built in Mangistau regionKazakh Prime Minister Olzhas Bektenov discussed the construction of a $1.53 billion carbamide and ammonia plant at a meeting with ESTA Construction CEO Mustafa Toprak, the government press service reported."Following the meeting, authorized government agencies were instructed to speed up all procedures and submit a draft investment agreement with ESTA Construction for signature within two weeks, which will launch the implementation of a major investment project," the report said.According to the press service, the $1.35 billion project envisages the creation of a large gas chemical plant in the Mangistau region, near the Kuryk seaport. It is noted that the location of the plant was chosen taking into account logistical advantages and ensuring optimal conditions for the export of products via the Caspian Sea.According to plans, the plant will produce up to 700,000 tonnes of carbamide and 42,000 tonnes of ammonia per year, reducing the country's dependence on imported fertilizers and providing the country's agricultural sector with high value-added products. Up to 3,000 specialists will be involved in the implementation of the project, and 400 permanent jobs will be created after construction.Kazakhstan currently produces three types of fertilizer: ammonium nitrate, ammophos and ammonium sulphate. However, with a demand of 3.2 million tonnes, domestic capacity only meets 56% of demand, producing around 1.8 million tonnes of fertilizer per year.Olzhas Bektenov emphasized that the establishment of domestic carbamide production will reduce dependence on imports and strengthen food security.The meeting also discussed government support measures for agricultural producers.Currently, Kazakhstan has a subsidy program that covers up to 60% of the cost of fertilizer; from March 2024, an advance subsidy mechanism will be introduced, whereby funds will be transferred to producers in advance to reduce the cost of products. Last year, 46.4 billion tenge was allocated for this purpose; 35 billion tenge is earmarked for 2025.ESTA Construction is an international construction company operating as a general contractor and designer in the international construction market. (ICE ALMATY)

Fonte notizia: INTERFAX