(Yicai) Jan. 3 -- China CAMC Engineering will begin work on a factory that produces sodium carbonate, which is a key material for producing various chemicals, in Kazakhstan now that the Chinese engineering contractor has received a downpayment from its client Yildrim Holding.

CAMC Engineering is being paid a total of USD337 million by Istanbul-based Yildrim to design and build, as well as procure, install and test equipment, the Beijing-based company said. The amount is equal to a quarter of the firm’s revenue in 2022.

The plant, which will be located in the Zhambyl region, will produce 500,000 tons of sodium carbonate per year once finished, it said. Construction is expected to take three and a half years.

The project will help consolidate CAMC Engineering’s strengths in industrial engineering construction and enhance its global brand awareness, it said.

CAMC Engineering’s share price [SHE:002051] closed up 0.86 percent at CNY8.17 (USD1.14) today.

Editor: Kim Taylor