Kazakhstan plans to construct a plant for production of potash fertilizer as said by the deputy minister of industry and new technologies, Nurlan Sauranbayev.

The Kazakh Ministry of Industry and New Technologies and China-Agro-Holding JSC agreed to build the plant during Chinese President Xi Jinping’s visit to Astana on September 6 – 8. “The Chinese company will be a partner in this project” according deputy minister Nurlan Sauranbayev. “As is known, China is one of the largest consumers of potash fertilizer, which is why we will get a guaranteed market for our products.”

The project is estimated to cost nearly US$1 billion. “If the capacity of the plant grows, the project’s cost may increase to US$3 billion.

The chairman of the Board of Samruk-Kazyna Fund, Umirzak Shukeyev, and the head of the Board of Directors of CITIC Corporation, Chang Zhenmin, had earlier signed an agreement on the so-called “Investment map”, which includes projects to be implemented in Kazakhstan jointly with China. The total cost of the projects to be carried out by 2020 is valued at US$22 billion.