Italian investors will open a new plant in Kazakhstan on production of bio-energy from plastic
Italian investors will open a new plant in Kazakhstan on production of bio-energy from plastic. The corresponding memorandum was signed between Kazakh Invest national company and the Italian corporation at the international exhibition EXPO 2017. The unique technology will allow converting recycled garbage not only into electricity, but also into agricultural fertilizers. The Italian side will invest nearly 50 million euros in the project. The plant will be located on the territory of Astana.
NURSULTAN DZHIENBAYEV, DEPUTY CHAIRMAN, KAZAKH INVEST:
- We need to determine the location of the plant, and then negotiations will be conducted with the management companies. Ten projects have been implemented with Italy, now there are three more projects under consideration. The total amount of investments is quite large, the rates of development of bilateral relations are at a high level, and therefore, Italy is a key partner for Kazakhstan.
NORBERTO ZANINI, INVESTOR, ITALY:
- Kazakhstan has favorable investment conditions. Therefore, we decided to build a plant in Astana. Our equipment doesn’t harm the environment and saves electricity. We expect that investments will pay off in three years.
Along with attracting investments, Kazakhstan is developing export-oriented industries. These two spheres play an important role in the policy of country branding and influence the dynamics and quality of the countries' economic growth. In fact, exports enable the competitive strategic development of the country, and according to experts, Kazakhstan has all reserves for the production of such goods. Experts suggest not only to open new plants, but also to increase the production capacity of existing enterprises. According to director of the Institute of World Economy and Politics, Yerzhan Saltybaev, Kazakhstan needs to enter new markets. Kazakhstani products can be sent to the countries of South-East and South Asia, as well as the Caucasus and the Middle East. The priority is given to expanding exports in metallurgy, mineral fertilizers, petrochemical products and agriculture. In the address to the nation, the Kazakh President instructed to double the volume of non-commodity exports by 2025.