Kazakhstan Mangystau region's project on manufacturing of transformers postponed

Business Materials 29 May 2019 14:24 (UTC +04:00)

Baku, Azerbaijan, May 29

By Nargiz Sadikhova - Trend:

The realization of the project in Kazakhstan’s Mangystau region on manufacturing of transformers and cabels worth 9 billion tenge has been put on hold, Trend reports via LS news agency.

Aktau Energomash LLP is realizing the project.

“It was expected that the project will be launched this year, however the launch date was re-scheduled to 2020. Currently the construction is on hold," reads the message.

“We are waiting for the financial support from the investor. We expect that the venture will be put into operation in 2020 but the precise quarter is not known yet,” Samir Rasulov, the CEO of Aktau Energomash LLP said.

The project is being realized within the territory of Aktau Seaport Special Economic Zone (SEZ) which is in Aktau, Kazakhstan.

“The output volume of the venture is to be 2,500 cable products and 1,200 units of electrical equipment a year,” the report said.

“The manufactured production is to be realized within the market of Kazakhstan, Turkmenistan, Kyrgyzstan and Uzbekistan. Furthermore, the launch of the venture is to create 150 new work places,” the statement said.

(1USD = 380.15 KTZ on May 29)


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