(Yicai) June 18 -- China CAMC Engineering, a subsidiary of the state-owned China National Machinery Industry Corporation (Sinomach), has secured a USD337 million contract to construct the second phase of Kazakhstan’s first soda ash plant to double its capacity.

CAMCE signed an engineering, procurement, and construction contract for the next phase of the Qazaq Soda project in southern Kazakhstan’s Zhambyl region during the second China-Central Asia Summit, the Beijing-based company announced yesterday. The diplomatic gathering was held in Astana yesterday.

This marks CAMCE’s second major contract for the pioneering soda ash facility, which is expected to position Kazakhstan as an exporter of sodium carbonate. Early last year, CAMCE revealed it had won the general contract for the first phase, also worth USD337 million. Construction of that phase began the same month and is expected to take three and a half years.

The second phase will double the plant’s total annual capacity to one million tons of soda ash -- an industrial chemical widely used in glass manufacturing, detergents, and water treatment.

Under the contract, CAMCE will oversee the construction of workshops, a raw material mining zone, and staff accommodations. The scope includes plant design, equipment procurement, construction, operation, and commissioning. CAMCE noted that the project is expected to take no more than three and a half years to complete, pending financing arrangements and prepayment.

The second phase is owned by Türkiye’s Corex Holding, an Istanbul-based conglomerate active in mining, logistics, and renewable energy. The first phase is backed by Yıldırım Holding, the former parent company of Corex and part of the Yıldırım family’s industrial empire.

CAMCE reported CNY546 million (USD76 million) in revenue from the first phase last year. The second phase, which accounts for nearly 20 percent of CAMCE’s annual revenue last year, is expected to significantly enhance its performance over the next four years.

Once fully operational, the Qazaq Soda plant will enable Kazakhstan to become a leading global producer of soda ash, reducing its reliance on imports and establishing its presence in international markets, according to information previously published by Sinomach.

Despite the new contract, CAMCE’s share price [SHE: 002051] fell by 1.3 percent to CNY8.15 (USD1.10) in Shenzhen today.

Editor: Emmi Laine