Kazchrome to carry out $153.2 mln renovation project at Aksu Ferroalloy Plant
ASTANA. Oct 5 (Interfax) - Transnational Company Kazchrome JSC, which is part of Eurasian Resources Group, launched a renovation project at the Aksu Ferroalloy Plant, the company told Interfax.
The cost of the project is $153.2 million. Financing comes from the company's own funds.
The project is aimed to modernize the production process in Shop No.6, which will increase the capacity of the furnace by over 35% and decrease the production cost by 5%.
JSC Transnational Company Kazchrome belongs to Eurasian Recourses Group (ERG) which acquired Eurasian Natural Resources Corporation (ENRC) in December 2013, after ENRC got delisted from London Stock Exchange at the end of November 2013. ERG operates as a private company.
Kazchrome operates Donskoy Ore Mining and Processing Plant in the Aktobe region, Kazmarganets Mining Enterprise in the Karaganda region, Aksu Ferroalloys Plant in the Pavlodar region and the Aktobe Ferroalloy Plant. Kazchrome employs nearly 19,000 people.
ERG is one of the world's leading diversified mining and smelting groups with fully integrated mining, processing, energy production, logistical and marketing operations. Eurasian Group manages the following production assets of ERG in Kazakhstan: Kazchrome, Aluminum of Kazakhstan, Sokolov-Sarbai Mining and Processing Works (SSGPO), Kazakhstan Electrolysis Plant, Eurasian Energy Corporation, Shubarkol Komir and Transcom.