Chinese investors intend to build non-ferrous metal processing plant and open commodity exchange in Kyrgyzstan

Bishkek, May 17, 2019. /Kabar/. Chinese investors intend to build a non-ferrous metal processing plant and open a Central Asian commodity exchange in Kyrgyzstan, Shumkarbek Adylbek uulu, the Director of the Investment Protection and Promotion Agency (IPPA) of the Kyrgyz Republic told reporters during the Shanghai Cooperation Organization: Expanding of Cooperation Boundaries business forum
He said that the signing of memorandums of cooperation between IIPA, Shenzhen Daren Group LLC, Lingbao Gold Group JSC and Full Gold Mining LLC took place on May 17.
"Kyrgyzstan is rich in non-ferrous metals. The company that developed the field here expressed its desire to build a precious metal processing plant here," he said.
Shumakarbek Adylbek uulu noted that the plant intends to work not only with raw materials from Kyrgyzstan, the company has plans to cooperate with neighboring countries.
"The issue will be further elaborated and we hope that we will prepare an agreement by the visit of President of China Xi Jinping," he added.
The head of the IPPA noted that investors provide $500 million for the construction of the plant and $1.5 billion for the opening of the commodity exchange.
Shumkarbek Adylbek uulu also said that a memorandum on the creation of a large educational hub in Kyrgyzstan from Indian investors for about $1 billion was signed. In addition, a memorandum on the implementation of educational innovation project for $ 20 million was signed.
In total, 11 memorandums worth more than $3 billion were signed within the forum.