Astana, Kazakhstan, Feb. 25
By Daniyar Mukhtarov - Trend:
Five joint projects with multinational companies will be launched in Eastern Kazakhstan,
the Deputy Prime Minister - Minister of Industry and New Technologies Asset Issekeshev said during his working visit to the to the Eastern Kazakhstan region of the country.
"Now the projects indicated in the East Kazakhstan region are in the automotive industry with "Renault-Nissan " in metallurgy - with " Posco " (one of the world leaders in metallurgy), with the" Rio Tinto "- in geological exploration," - he said.
Construction of the automobile plant has begun with a full cycle capacity of 120, 000 cars per year, and the technology park for the production of automobile parts, according to the Ministry of Industry and New Technologies of Kazakhstan.
The project is implemented by Asia-Auto Kazakhstan company together with the Renault-Nissan alliance (shareholder "AvtoVAZ " ). The cost of the project is 74.5 billion tenge ($ 1 = 184.5 tenge) .
Some 14.5 billion are from the company 's own funds and the remaining amount are the loans from Eurasian Development Bank and the European Bank for Reconstruction and Development) . The facility is scheduled to be commissioned next year. Half of the production will be exported.
Another investment project implemented in the region with multinational companies is the plant titanium ingots LLP "POSUK Titanium." A local titanium- magnesium combine implements this project jointly with Korean partners.
Project cost is 7.384 billion tenge, which is financed by POSUK Titanium, POSCO Co.Ltd, Kolur Holding AG and JSC UK TMK." The new venture will be commissioned in 2016. The plant will produce 4.1 tons of titanium mill products per year (60 percent of domestic demand of Kazakhstan). Some 80 permanent jobs will be created at the plant.
Translated by S.I.
Edited by C.N.