All Press Releases for December 16, 2022

India to build a new ferroalloy plant in Kazakhstan

Kenes Rakishev signed an agreement with the Indian holding Monnet Group

    ASTANA, KAZAKHSTAN, December 16, 2022 /24-7PressRelease/ -- Indian Monnet Group is planning to build a ferroalloy plant in Kazakhstan. This is confirmed by the memorandum as well as by the shareholder agreement, signed by Chairman of the Board of Directors of Fincraft Resources Kenes Rakishev and Chairman & Managing Director of Monnet Group Sandeep Jajodia.

Earlier this week, President of Kazakhstan Kassym-Jomart Tokayev received a visit from one of the richest businessman of India, president of the Adani Group, Gautam Adani.

During the meeting, the prospects for the implementation of long-term and strategically important investment projects were considered.

This confirms India's interest in establishing cooperation with Kazakhstan in critical sectors of the economy such as energy, petrochemicals and renewable energy.

"The implementation of the Fincraft Resources project together with Monnet Group will attract foreign investment into the economy of Kazakhstan, as well as create jobs in the city of Taraz. In accordance with the agreements reached, most of the investments in the project are provided by the Indian side, which indicates the investment attractiveness of the country's economy and favorable conditions for foreign investors in Kazakhstan," commented on the signing of the agreement Kenes Rakishev, head of Fincraft Resources.

Rakishev also expressed hope for further expansion of cooperation with Monnet Group.

Monnet Group is a large diversified industrial holding with interests in mining, steel production, ferroalloy production, coal processing, energy, logistics, real estate, etc.

Kenes Rakishev, the majority shareholder of Fincraft Resources, also owns Fincraft Group LLP, which operates in seven countries around the world.

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