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Two major players in Kazakhstan's ferroalloy production, YDD Corporation and Asia Ferro Alloys, are on the verge of changing hands. An investment consortium, which includes Nurlan Ziyenbayev, has reportedly signed preliminary agreements to acquire both companies, potentially marking a significant shift in the nation's metallurgical landscape.

New Ownership on the Horizon

YDD Corporation, known for its high-quality ferroalloy production, is nearing a deal with an investment consortium. Simultaneously, the consortium is in advanced talks to acquire a 100% stake in Asia Ferro Alloys, including joint management rights. These developments suggest a potential reduction in the influence of the Nigmatiulin clan, who are the current owners of these significant industrial assets.

Who is Leading the Acquisition?

Nurlan Ziyenbayev, identified as an active member of the investment consortium, previously served as the Deputy Akim (Governor) of the Karaganda region. His current public status is unclear, as his name no longer appears on the regional administration's website.

Deal Details Remain Under Wraps

While the parties are reportedly in the final stages of completing the transactions, the specific financial and commercial terms of the agreements have not been disclosed. This lack of transparency has drawn the attention of industry experts and observers.

Past Challenges and Controversies

The potential sale comes after a period of reported operational issues at YDD Corporation, including temporary shutdowns and employee departures. Furthermore, the allocation of state funds for the launch of the EkibastuzFerroAlloys plant and the legal proceedings involving former senator Yerlan Nigmatiulin have previously generated public discussion, bringing to light past controversies and investigations linked to the Nigmatiulin clan.

Workplace Safety Concerns

YDD Corporation's facilities have experienced safety incidents in the past, with equipment malfunctions leading to worker injuries. A notable incident in July 2024 resulted in eight workers being injured. A subsequent investigation by a special commission identified fault on the part of the employer, though the exact cause of the accident remains undetermined. These events raise concerns about the adherence to workplace safety regulations.

The source article also mentions other allegations and investigations concerning the Nigmatiulin clan, including accusations of raiding, ties to criminal groups, and the fabrication of criminal cases. The outcomes of these matters are still pending.

This information was reported by Infohub.kz.