ERG wants to invest up to $ 4 billion into projects in Kazakhstan.
Edited by Rhod Mackenzie / 2016-05-30 07:24:41
Finance Kazakhstan Kazakhstan mineral extraction Metals and mining Magnitogorsk metallurgic plant MMK Kazakhstan Metals and Mining Iron ore Steel
Swiss business group of Kazakh billionaires and the Government of Kazakhstan Eurasian Resources Group (ERG) wants to invest $ 3-4 billion into three five-year projects in Kazakhstan. Some of the money might be borrowed in foreign markets, the co-owner of the company, Aleksandr Mashkevich announced on Friday, May 27, Reuters reports.
In 2014 ERG combined assets of the problematic ENRC holding, dealing with industrial raw material extraction in Kazakhstan and Africa, after the collapse of its shares on the background of the corruption investigations, contradictions in the board of directors and a collapse in commodity prices.
