Baku, Azerbaijan, May 31
By Nargiz Sadikhova - Trend:
Investments will be made in modernization and expansion of aluminium rolled wire manufacturing in Kazakhstan, Trend reports citing LS news agency.
The project is taking place in Kazakhstan’s Shymkent city and includes modernization of the aluminium rolled wire manufacturing plant and the launch of new line of aluminum alloys manufacturing.
“The project is being realized via investor’s own assets and its cost is 123 million tenge,” the report said. “The investor is a resident of Kazakhstan and his investment accounts for 100 percent of the funding. The manufacturing is to be launched by the end of 2020.”
According to the agency, it is expected that following the modernization and expansion, the volume of manufacturing will increase by 15,000 tons of aluminum rolled wire and by 5,000 tons of aluminum alloys a year,” reads the message.
“Some 20 percent of the manufacturing is to be exported to Uzbekistan, Tajikistan, Kyrgyzstan and Ukraine,” the report said.
(1USD = 380.78 KTZ on May 31)
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