Iran invests in meat processing plant in Kazakhstan

Iran invests in meat processing plant in Kazakhstan

The investment of Iranian company Agro Portal for this project is about 21.5 million USD and the construction of the plant will start this year, reported the Kazakh Invest press service Jan.18.The Iranian company signed a contract for the implementation of an investment project that provides investment and investment preferences with the Investment Committee of the Kazakh Ministry of Investment and Development.

Agro Portal General Manager Amir Shekarchi said that favourable investment climate is created for foreign companies in the country. “We closely cooperate with the Kazakh Invest representative office and the East Kazakhstan regional administration that fully support our project,” he said.

Modern, non-waste production lines will be installed at the facility and nearly 250 jobs will be created. Up to 2,000 heads of small cattle and 400 heads of cattle are expected to be processed per day. The production will be mainly export-oriented and up to 90 percent of production will be exported to Iran.

“Kazakh Invest will continue its activities to support this project for the construction of a meat processing plant. The agenda includes obtaining customs and tax preferences, subsidising issues and visa support,” said Kazakh Invest East Kazakhstan Regional Director Madina Baisalbayeva.

The East Kazakhstan authorities will visit Iran in late January. The tour to the feeding stations and dairy farms, meetings with local agricultural equipment producers and partners interested in importing Kazakh meat products are scheduled. Projects in the field of agro-industrial sector will be offered to the potential investors.

The agro-industrial sector is one of the priority sectors for attracting foreign direct investment in the National Investment Strategy for 2018-2022. The gross inflow of direct investments amounted to 135.2 million USD in agriculture in the period from 2015 through the first nine months of 2017.