Metallurgic ENRC to increase capital investment to $7 bn.

/REUTERS, Almaty, October 7, 08/ - Kazakhstan metallurgic giant Eurasian Natural Resources Corporation (ENRC) plans to increase capital investments to $6.9 bn. from $3.6 bn., planned earlier for investment projects in Kazakhstan. The president of the company Felix Vulis commented it in the interview to Business and Vlast. "This program reflects every our division. The major part of the projects will be effective in 2010 - 2012" - he said. The key project is increasing capacity of electrolyze aluminum plant by 125.000 tones a year by 2010. The program also provides increasing of annual ferrochrome production by more than 600.000 tones by 2013, finishing of second pellets plant construction in the first half of 2009 and launching of cleaning plant. Metallurgic Corporation has increased production volume in the second quarter of 2008: alumina production grew by 7.1 %, electricity - by 12.2 %, chrome - 2.0 %, manganese concentrate - by 34.2 %, ferroalloys - by 2.5 %. ENRC unites several metallurgic corporations, including Kazchrome, Kazakhstan aluminum, Kazakhstan aluminum plant, Zhayremskiy ODPE, SSODE, Eurasian Energy Corporation. ENRC major shareholders are Alexander Mashkevich, Alidzhan Ibragimov and Patokh Shodiev, which according to Forbes, are among 100 Kazakhstan multi-millionaires. [2008-10-07]