AKTOBE. July 16. KAZINFORM Construction of a new ferroalloy plant of JSC "TNK "Kazkhrom" is underway according to the schedule. The project is worth USD 750 million and not whooping USD 1 billion as some resources have been reporting. Head of the construction project Akimzhan Bishenov confirmed the information during the press tour.

"Currently the general construction works are being implemented and everything goes according to the schedule," Mr. Bishenov said.

According to him, the capacity of the new plant will amount to 440 000 tones of high- carbon ferrochrome and it will be more productive that the existing plant. The plant is expected to be commissioned in 2013.

This project is a part of the State Program of Advanced Industrial and Innovative Development of Kazakhstan.