BAKU, Azerbaijan, Jan. 25
By Nargiz Sadikhova - Trend:
South Korean Star Boiler company will construct a plant for production of water heaters and industrial equipment in Kazakhstan’s Almaty city, Trend reports with reference to KAZAKH INVEST National Company.
The memorandum on the implementation of an investment project was signed between Kazakhstan’s KAZAKH INVEST National Company and Star Boiler itself.
The plant’s capacity is to be up to 6,000 water heaters, heat exchangers, furnaces, metal containers, tanks and other related industrial equipment annually a year. The project is expected to create up to 300 new permanent jobs, whereas the value of investments into the project will be $20 million.
“KAZAKH INVEST, with the support of local executive bodies, will provide further assistance to the investors at all stages of the project”, Managing Director of KAZAKH INVEST Aibek Tursingaliyev said.
Established in 1988, Star Boiler company now has factories in China and Vietnam.
The company develops and manufactures new technologies and products, such as waste heat boilers, condensing boilers and vacuum boilers, electric boilers, and others.
---
Follow the author on twitter: @nargiz_sadikh