Qarmet Opens Singapore Office as Part of Expansion Strategy

Kazakhstani metallurgical company Qarmet has opened a representative office in Singapore as part of its strategy to access international capital markets, the company told Orda.kz.

Qarmet emphasized that it continues to be managed in Kazakhstan, and reports of a sale or ownership change are false.

The implementation of the strategic modernization program of JSC Qarmet, aimed at transforming processes to improve the quality and volume of production by introducing advanced industrial safety standards, requires the introduction of a new business model and the attraction of significant amounts of capital,
 the company stated.

The Singapore office will oversee operations in the region, including Malaysia, Indonesia, and Australia.

Despite global challenges in the metallurgy sector, Qarmet continues to grow. According to S&P Global, steel production rose by 30% and shipments by 23% in Q1 2025.

This growth followed the company’s acquisition by Qazaqstan Steel Group from ArcelorMittal in 2023. At the time, Qarmet was in decline. Following modernization efforts and a new management team, its financial position improved significantly by the end of 2024.

Qarmet noted that opening the Singapore office confirms its expansion plans and continued growth strategy.

Original Author: Maria Kravtsova