Chinese Investment in Kazakhstan Deepens With $2.5 Billion in New Deals

Quick Summary:

Although branded as commercial deals, most of the agreements involve a steel and mining company recently acquired and renamed by a state-owned private equity firm in the wake of a tragic mining accident.

The integrated steel and mining company – which runs, among other things, Kazakhstan’s largest steel plant – was the center of considerable tragedy and controversy over the years due to a series of unfortunate accidents as the company’s mines and plants.

Although the deals were branded as commercial, there’s considerable state involvement given that Qarmet JSC is owned by a state-owned private equity fund, the Qazaqstan Investment Corporation (QIC).

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Article Details

Author / Journalist: Catherine Putz

Category: Economy

Markets: United StatesBangladeshCanadaChinaIndiaKazakhstanKyrgyzstanLuxembourgMongoliaNew ZealandSri LankaTaiwanUkraineUzbekistan

Topics: China Arcelormittal Investment Billion Kazakhstan Chinese Steel Kazakhstan’s Qarmet Trade 2023

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-05 @ 23:56:00 (8 hours ago)

News Timezone: GMT +8:00

News Source URL: thediplomat.com

Language: English

Article Length: 1673 words

Reading Time: 10 minutes read

Sentences: 68 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Diplomat

News ID: 23436485

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