Azerbaijan, Baku, Sep. 3 / Trend E. Kosolapova/
A full cycle automobile plant will be built in Kazakh city of Ust-Kamenogorsk within the Industrialization Map, Kazakh Industry and New Technologies Ministry told Kazakh Prime Minister web site.
The target capacity of the plant is expected to reach 120,000 vehicles per year.
The memorandum of strategic partnership on the car plant construction was earlier signed by AutoVAZ, Asia Auto and Ertis Socio-Entrepreneurship Corporation.
Currently, the first stage of the project is implemented. Feasibility studies of the second and third stages have been developed. The plant is expected to be launched in 2015.
Moreover, Agromashholding company produces Ssang Yong cars within Kazakhstan's State Program of Forced Industrialization. The company assembled 691 cars worth 2.68 billion tenge (149.57 tenge = $1) in 7 months of this year. Moreover, a project on Hyundai cars and buses assembly has been launched in Almaty region. The plant produced 160 cars worth 390.7 million tenge in the first half of this year.