Inside KazTAG - What is known about the new investor of the ArcelorMital Temirtau facilities

Astana. December 11. KazTAG – Kazakh businessman Andrey Lavrentiev will become a new investor in the enterprises that were sold by JSC ArcelorMittal Temirtau (AMT), controlled by Indian investor Lakshmi Mittal.
The company Qazaqstan Steel Group, controlled by Lavrentiev, acquired the assets of AMT. It is known that the company is registered in the jurisdiction of the Astana International Financial Center (AIFC). Lavrentiev is the sole shareholder. It is also reported that the enterprise will be renamed into QARMET.
Andrey Lavrentiev is a Kazakh businessman in the engineering industry. Born on June 29, 1979 in Almaty. By nationality – German. Married – Gauhar Iskanova, granddaughter of Akhmet Adilov, former head of the department of non-ferrous metallurgy of the Central Committee of the Communist Party. Father - Sergey Petrovich, engineer for technical hydraulic structures, candidate of sciences, according to his project, a dam was built on the Bartogay reservoir. Mother - Ella Antonovna - economist of the State Planning Committee, daughter of immigrants from Germany. Andrey Lavrentiev is raising six children.
Among the business projects of the Lavrentiev group are large engineering enterprises of Kazakhstan, including SaryarkaAvtoProm, AgromashHoldingKZ, QazTehna, KamaTyreskz, Kamlitkz, Silk Road Electronics with a total capitalization of more than T800 billion. The total production volume of the Lavrentiev group of companies exceeds T1.5 trillion. The total number of jobs created is more than 20 thousand people, which is comparable to the number of employees of AMT enterprises. The area of production enterprises is more than 600 thousand square meters, and the volume of attracted investments is more than T700 billion.
As KazTAG previously reported, Qazaqstan Steel Group became a new investor in AMT. The shareholder is Kazakh businessman Andrey Lavrentyev. The company will be renamed QARMET. According to official information from the authorities, AMT sold properties in Kazakhstan for $286 million.
On November 4, First Deputy Prime Minister Roman Sklyar announced that the Indian tycoon would be replaced by a domestic investor, “who will buy the enterprise at its current market value.” As the first deputy head of the Cabinet of Ministers clarified, the authorities will strictly control the process.
“There are massive investments, as we say, more than $1 billion in production and the social sphere of the city of Temirtau,” Sklyar clarified then.
According to him, the new investor undertakes to invest another $3 billion over the next three to five years.

Photo source: picture from an open source