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Memorandum of Understanding signed between Government of Kazakhstan and ArcelorMittal Temirtau JSC

Friday, 30 July 2021, 17:34:44

Deputy Prime Minister of the Republic of Kazakhstan Roman Sklyar and General Director of ArcelorMittal CIS Vijay Goyal signed a Memorandum of Understanding between the Government of the Republic of Kazakhstan and JSC ArcelorMittal Temirtau.

The memorandum assumes the provision of sustainable development of the metallurgical industry in Kazakhstan, as well as growth in the social, environmental, labor and economic spheres.

Under the terms of the memorandum, ArcelorMittal Temirtau JSC will significantly increase investments in its modernization, the total volume of which under the Investment Contract will amount to at least $3 billion over the next 10 years, and most of this amount will be invested in the first five years of the agreement.

In accordance with the document, the activities of ArcelorMittal Temirtau JSC will be aimed at enhancing social stability, ensuring industrial safety, as well as preserving the environment and ecology.

It is planned to carry out major repairs in the coke-chemical and blast-furnace production, converter shop and rolling shops, replacement and repair of boilers at TPPs No. 1 and No. 2, construction and launch of new coke oven batteries and other activities.

Also, ArcelorMittal Temirtau JSC, with the involvement of independent experts, will conduct an extensive analysis of the entire production cycle for safe, environmental, social sustainability, on the basis of which the parties agree on programs for further development in these areas.

The conclusion of the memorandum was preceded by meetings of the two parties, at which the algorithm of interaction on topical issues was discussed, and the Roadmap for the modernization of production was signed.

In general, the signing of the memorandum will allow the parties to bring interaction to a qualitatively new level, improve the safety of production processes at ArcelorMittal Temirtau JSC, and comply with the principles of environmental safety requirements.


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