Kazakhstan and China have agreed to build a $1.2 billion steel mill in Kazakhstan.

The project, developed with China's Fujian Hengwang Investment, will have an annual capacity of up to 3 million tons. It is expected to create around 2,500 jobs and serve both the domestic market and exports.

The mill will use Kazakh raw materials such as natural gas and iron ore to produce wire, rebar, pipe steel, angles, and sections. 

A first phase with 1 million tons of capacity is planned for completion in 2027.