Chinese company to invest $200M in building light bulb plant in Kazakhstan

Business Materials 25 January 2019 15:24 (UTC +04:00)

Baku, Azerbaijan, Jan. 25

By Rashid Shirinov – Trend:

The groundbreaking ceremony of a new plant for the production of energy-saving light bulbs was held in the industrial zone of the city of Turkistan, Kazakhstan, Trend reports referring to the Kazakh media.

The ceremony was attended by the Governor of the Turkistan region Zhanseit Tuymebayev, as well as representatives of Chinese company Tai Energy and Chairman of the Supervisory Board at Source Energy company Oralbek Botbay.

The press service of the Turkistan region administration said that the project cost is estimated at $200 million. The construction of the plant began as part of a bilateral memorandum signed earlier at a meeting of the region’s governor with the Chinese investor.

"Five hectares of land in the industrial zone has been allocated for the implementation of this project. The plant should be built in time and with high quality," Tuymebayev said.

It should be noted that Tai Energy's products are in high demand in the lighting of streets, highways and buildings. Turkistan is one of the first regions in Kazakhstan where the company invests its funds.

The construction of the plant is planned to be completed within 3 years, after which about 700 people will be provided with jobs. The plant's products are planned to be sold not only in Kazakhstan, but also in neighboring countries.


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