Kazakhstan Chamber of Commerce in the USA

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Chinese companies to invest $1.74 billion in Kazakhstan’s organic foods industry

Posted on February 04, 2016 by KazCham

Colibri Law Firm BI@colibrilaw.com

Chinese companies have agreed to invest $1.74 billion in Kazakhstan’s organic foods industry for products earmarked for export to China, according to the Kazakh Deputy Agriculture Minister Gulmira Isayeva.

“Today we start 19 agricultural projects with a total investment of $1.74 billion. Most of the projects are located in eastern Kazakhstan and the Almaty region,” said Isayeva after the signing of the so-called “Cooperation Plan” between Kazakh and Chinese companies.

Following the signing ceremony in Astana, the Kazakh Agriculture Minister Asylzhan Mamytbekov said that COFCO plans to build three plants for the processing of tomatoes and tomato paste, the Rifa Holding Group plans to build a meat processing plant with an annual capacity of 17 thousand tonnes of lamb and beef in the East Kazakhstan region, as well as to export meat to China and the Arab countries.

“We have a large and growing demand for organic agricultural products. Kazakhstan and China have a strong strategic partnership in this regard,” said China’s ambassador to Kazakhstan, Zhang Hanhuey.

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