Kazakhstan’s Ministry of Agriculture has today announced a Memorandum of Understanding (MOU) with GCG Capital LLC for the launch of a sugar refinery. The total investment is expected to reach 1 billion euros.
The MOU was initially signed on 20th February, 2023. It is hoped that the new refinery will be of great benefit to both the economy of Kazakhstan and the local agricultural sector.
A spokesperson from the Ministry of Agriculture said: “We are very pleased to have signed this MOU with GCG Capital LLC. We are confident that the new refinery will provide a range of advantages to our economy and agricultural industry.”
GCG Capital LLC is a leading international investment group which has a successful track record of investments in a number of industries, including energy, infrastructure, and agriculture.
Commenting on the news, a representative for GCG Capital LLC said: “We are delighted to partner with the Ministry of Agriculture of Kazakhstan and look forward to helping this region to reach its full potential. We are committed to providing the necessary support and resources to ensure it is a success.”
This is the latest in a series of major investments made in Kazakhstan as the country continues to develop its economy and agricultural industry.
Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.