During a meeting between Kazakh and Chinese government officials that took place in Kazakhstan in order to double the bilateral trade volume from $41 billion recorded in 2023, Kazakhstan-based steelmaker Qarmet, formerly known as ArcelorMittal Temirtau, inked several agreements worth $2.5 billion with Chinese companies operating in several industries including steel, mining, construction and energy.
Accordingly, the company has joined forces with Zhengzhou Coal Mining Machinery Group for the supply of mining complexes for its coal mines. Moreover, together with Xinxing Ductile Iron Pipes Co., LTD, it will build a high strength cast iron pipe plant with a production capacity of 200,000 mt per year for construction and housing projects, entailing an investment of $161 million.
In the meantime, Qarmet will have a long-term collaboration with China Metallurgical Group Corporation on the mining and steel industries, amounting to $1 billion. Together with ACRE Coking & Refractory Engineering Consulting Corporation, it will spend $649 million to modernize its coke plant.
Additionally, Nanjing Fiberglass Research & Design and Qarmet will work on the construction of a mineral insulation plant with a capacity of 100,000 mt per year using blast furnace slag.