This agreement was reached within the framework of the Kazakh-Chinese Business Council. A quadripartite memorandum was concluded between the regional authorities, the investor, the company providing devices and engineering services, and the founders of the business - the akimat of the Kostanay region, Baiterek Venture Fund JSC, the Chinese company Myande group and the KazFoodProducts agricultural holding, which owns the new enterprise.
It is expected that the launch of the new plant will not only provide employment to residents of the region and bring revenue to the state budget, but will also have a positive impact on increasing food security and export potential, and will also have a positive impact on the development of the agro-industrial complex.
The capacity of the new Qostanay Grain Industry plant will be 400 thousand tons of deep processing of wheat per year. Amino acids, bioethanol, gluten, animal feed, and wheat bran will be produced there. The launch of the enterprise is planned for 2027.
“This memorandum reflects the country’s desire to develop innovative and environmentally sustainable production sites. The region will increase the qualifications of engineering and technological specialists. The construction of the Qostanay Grain Industry plant will contribute to the further development of other industrial enterprises and wheat producers in the region,” the akim of the Kostanay region emphasized Kumar Aksakalov.
In addition, the memorandum provides for a project to increase the production capacity of the AsiaAgroFood plant, a leader in the field of deep processing of wheat and corn in the Almaty region, namely from 200 to 300 tons per day. This agreement will have a positive impact on solving the social problems that farmers faced last year regarding the sale of corn in the region.
“Based on the quadripartite memorandum, it is planned to increase corn processing to 33 thousand tons per year. This will create prospects for opening new jobs, increasing export potential, and Kazakh confectionery companies will be fully covered by domestic starch syrup. We are glad that we are launching such large-scale projects in the field of agriculture with close cooperation with the akimat of the Kostanay region, Baiterek Venture Fund JSC and Myande Group Co., Ltd,” noted KazFoodProducts General Director Alikhan Kairatbek.
The parties expressed confidence in the successful implementation of these projects, which will contribute to the development of the agricultural sector and strengthening the economic stability of the region.
