The Kazakhstan Ministry of Agriculture has signed a Memorandum of Understanding (MOU) with GCG Capital LLC for the establishment of a sugar refinery. The total investment that GCG will be making is estimated to reach €1 billion.
The MOU was signed on 20 February 2023 and is expected to bring tremendous benefits to the economy of Kazakhstan. This strategic partnership is expected to help Kazakhstan become a major player in the sugar production industry.
“This agreement is a major milestone for the country and will set an example of how public-private partnerships can generate untapped potential,” said Prime Minister of Kazakhstan Mr. Kairat Kelimbetov.
GCG Capital LLC CEO, Mr. David Thomas, said: “We are proud to be working with the Government of Kazakhstan to create a world-leading sugar refinery. This project will drive economic growth and create long-term jobs for the people of Kazakhstan.”
The project is expected to be completed in 2025, and is seen as a major step towards the country’s economic development.
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