A Fujian-based company plans to invest $1.2 billion to build a 3-million-ton steel plant overseas.

According to the Ministry of Trade and Integration of Kazakhstan, Fujian Hengwang Investment Co., Ltd. has reached an agreement with the Kazakh side to build a steel plant in Kazakhstan with an annual production capacity of 3 million metric tons. The total investment for the project is approximately $1.2 billion. Once operational, the plant is expected to create about 2,500 jobs. The products will primarily supply the domestic market in Kazakhstan, while also being exported.

This project is a key component of industrial cooperation between Fujian and Kazakhstan. During his visit to Fujian, Arman Shakaliyev, Minister of Trade and Integration of Kazakhstan, reached an agreement with the Fujian side on the implementation of the project. Currently, the Kazakh side is actively promoting localized production across multiple sectors, including steel, machinery, electrical equipment, and textiles. In addition to the steel plant, this includes projects such as lifting equipment, transformers, and synthetic fibers.

Industry experts believe that if the steel plant is successfully established, it will help Kazakhstan elevate the standards of its metallurgical industry, drive the development of upstream and downstream industrial chains, and provide a new model for China’s steel industry to expand overseas. According to QazTrade data, trade between Kazakhstan and Fujian Province reached approximately $522 million in 2025, and opportunities for cooperation between the two sides continue to grow.