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Russia’s TATNEFT to establish joint tire manufacturing plant in Kazakhstan

Business Materials 29 July 2020 10:43
Russia’s TATNEFT to establish joint tire manufacturing plant in Kazakhstan

BAKU, Azerbaijan, July 29

By Nargiz Sadikhova - Trend:

Russia’s TATNEFT will establish a joint tire manufacturing facility in Kazakhstan in cooperation with Kazakhstan’s Allur Group of Companies, Trend reports with reference to TATNEFT.

The parties signed an Agreement of Intent and the Roadmap for the implementation of a project for construction of a tire manufacturing facility at a residential-operations rubber goods production complex in Kazakhstan on July 28, 2020.

Within the agreements, TATNEFT and Allur Group of Companies will establish a joint venture for the project's implementation.

The project shall provide for construction of a new manufacturing facility in Kazakhstan for the tyres production for passenger cars, LVC and trucks. The venture’s capacity is to be 3 million cars and LVC tyres, as well as half a million truck tires per year.

The manufacturing is to be commissioned in 2022. The project will create about 800 jobs, taking into account related industries.

Car tyres will be sold to cars assemblies in Kazakhstan, to the secondary market, as well as exported to neighboring countries.

TATNEFT is one of the largest Russian vertically integrated oil companies, which dynamically develops oil and gas production, oil refining, petrochemicals, a tire complex, a network of filling stations, power engineering, development and production of equipment for the oil and gas industry and a block of service structures.

Allur Group of Companies is a shareholder of the largest car manufacturer in Kazakhstan LLP "SaryarkaAvtoProm", an official distributor, manufacturer and dealer of the brands JAC, Ankai, Yutong, Chevrolet, Ravon, manufacturer of Hyundai, Niva Chevrolet, UAZ and MAN in the territory of Kazakhstan.

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Follow the author on twitter: @nargiz_sadikh

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