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Chinese firm invests $500m in Tajikistan metal plant
January 25, 2013, 1:05 pm

Tajikistan's President Emomali Rahmon (L front)

Tajikistan’s President Emomali Rahmon (L front) after signing an agreement with the WTO. [Xinhua]

China Global New Technology Imp & Exp plans to invest $500 million in construction of a metallurgical plant in northern Tajikistan.

Tajikistan in December 2012 signed an agreement with the World Trade Organisation (WTO) setting out the terms under which it is expected to join the global trade watchdog and negotiating body in early 2013.

The country’s State Committee on Investments and State Property Management said on Thursday.

“The plant will be built as part of the Zarnisor joint venture, whose main investor is this Chinese company,” a Committee spokesman said.

Zarnisor was established in 2007 near the Altyn Topkan lead-zinc deposit in Tajikistan’s north. The enterprise’s annual processing capacity amounts to 1 million metric tons of ore.

Over five years, China Global New Technology has invested some $150 million in the venture.

According to Tajikistan’s Energy and Industry Ministry, production of lead dust at Zarnisor grew 87 per cent over 2012 to 23,400 tons, while production of zinc dust rose 130 per cent to 37,300 tons.

A second production line is to be launched this year, doubling the enterprise’s production capacity.

Tajikistan shares borders with China, Afghanistan and also ex-Soviet Kazakhstan.

Source: Agencies