China invests in sugar substitute plant construction in Kazakhstan
CITIC Construction, a subsidiary of China’s CITIC Group, plans to invest over $1 billion in a deep grain processing plant in Kazakhstan’s Almaty region. This facility will produce sugar substitutes and sodium gluconate, with a processing capacity of 300,000 tons of grain annually, generating around $2 billion in product value. The project aims to create about 2,000 jobs and is part of a broader investment strategy, including $600 million for beef cattle production.
The Chinese state company CITIC Construction, a subsidiary of the Chinese investment enterprise CITIC Group (which also controls CITIC Bank), plans to invest more than $1 billion in the construction of a deep grain processing plant in the Almaty region to produce sugar substitutes and sodium gluconate, Kazakhstan’s Ministry of Agriculture reported.
According to the agency, the new enterprise will be capable of producing maltose syrup, fructose syrup, crystalline fructose and sodium gluconate, including by-products of fibrin and forage. The project is set to be implemented within the Kazbek Bek industrial zone, creating about 2,000 new jobs.
The processing capacity of the new production facility is expected at 300,000 tons of grain per year, with a total product value estimated at around $2 billion. However, no specific details have been provided, including a timeline for the construction. The only information available is that authorities are working to establish the necessary infrastructure in time.
In addition, in mid-July, the Ministry of Agriculture of Kazakhstan arranged deals with CITIC Construction and Beijing Capital Agro as they agreed to put $600 million in investments in beef cattle production in Kazakhstan. These funds will be used to create feeding stations, bringing a pool of new partners.
China is among the three largest agricultural trade partners of Kazakhstan. Agricultural trade between the countries amounted to $1.3 billion, which is a 67% increase compared to 2022. The volume of Kazakhstan’s agricultural exports to China — primarily grains, oilseeds and various oils — has doubled to $1 billion.
Source Link : https://kz.kursiv.media/en/2024-09-27/china-invests-in-sugar-substitute-plant-construction-in-kazakhstan/
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