It is planned to construct a plant for the production of potash fertiliser, Kazakh Deputy Minister of Industry and New Technologies Nurlan Sauranbaev told Trend.
"There is a resource base for this in the field in West Kazakhstan," he said.
The Deputy Minister recalled that the relevant document was signed between the Ministry of Industry and New Technologies of Kazakhstan and China-Agro-Holding JSC during the recent visit of Chinese President Xi Jinping to Astana.
"The Chinese company will be a partner in this project. As is known, China is one of the large consumers of potash fertiliser, therefore we get a guaranteed market to sell the future plant's products," Sauranbaev said.
According to him, the preliminary cost of the project for construction of the plant amounts to nearly $1 billion.
"If the plant's capacity grows, the project's cost may increase to $3 billion," he added.
As was earlier reported, Chairman of the Board of Samruk-Kazyna Fund Umirzak Shukeyev and Chairman of the Board of Directors of CITIC corporation Chang Zhenmin signed an agreement on the implementation of the so-called 'Investment map' which includes implementation of joint projects with China in Kazakhstan for a total of $22 billion by 2020.