The lower house of the parliament of the Republic of Kazakhstan approved a draft law on the ratification of an agreement between Kazakhstan and Russia on the implementation of a project to build a plant for the production of mineral fertilizers in the Zhambyl region.
The project is being implemented by the Russian company Eurochem.
As the Minister of Industry and Infrastructure Development of Kazakhstan Beibut Atamkulov noted, the first stage of the project has already been completed: a mining complex has been commissioned, on the basis of which the production of phosphorites up to 660 thousand tons per year has been established, a medium crushing and fine grinding unit with a capacity of 640 thousand has been built. tons per year. The investment amounted to $ 126 million.
The second stage involves the construction of an innovative chemical complex for the production of mineral fertilizers and industrial products with a capacity of at least 1 million tons of products per year. “At the moment, the group of companies“ Eurochem ”has already invested $ 138,7 million in the framework of the advanced financing of the second stage,” Atamkulov added.
The agreement provides for exemption from corporate income tax, value added tax, and property and land tax.
Further, the draft law on the ratification of the agreement will go to the Senate - the upper house of the republic's parliament.