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Chinese company to invest $1.1 B in Kazakh car factory

08 May 2019 [13:18] - TODAY.AZ

By Trend


China General Technology Group (Genertec) plans by 2020 to expand the production area of ??the auto assembly plant in Kostanay (Kazakhstan) by three times to 100,000 cars per year, of which 20 percent will be electric cars, Trend reports with reference to IA LS.

This year, the plant in Kostanay plans will produce 30,000 cars.

"The contract between the investor and the Kazakh partner has been signed. The total cost of the project is about $ 1.1 billion. Today there is not a single automobile plant in the CIS which received so much investment over the past 10 years. For example, recently, the Mercedes assembly plant that was launched in Moscow region received $300 million investments," chairman of the board of KAZAKH INVEST, Saparbek Tuyakbayev said.

He stated that, the new production facilities will become part of a cluster in the Kostanay region. It will be an automated production of electric cars, cars, trucks and buses.

"Chinese brands that are successfully sold will be produced there. It is assumed that the countries of the Customs Union will become the main sales market. We agreed with the investor that when the plant starts expanding, we will attract Kazakh companies to produce spare parts for it. For example, you can start producing tires, filters, discs, plastic parts for the interior and exterior of cars. Imagine how many tires this enterprise will consume," the head of the national company noted.

He added that the cost of cars will be very affordable for citizens. The use of advanced robotic technology will ensure the production of high-quality products and will significantly reduce the cost.

Currently, he stressed, a special development program is already being developed. In addition, the development of technical documentation has already begun. The construction of an additional premises will begin in 2020.

URL: http://www.today.az/news/regions/182302.html

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