BAKU, Azerbaijan, Aug. 14
By Nargiz Sadikhova - Trend:
Kazakhstan’s Alageum Electric company will launch an electrical equipment production plant in country’s North Kazakhstan region, Trend reports with reference to KAZAKH INVEST National Company JSC.
The venture is to start operating in 2021. In this regard, the reconstruction work of the former Petropavlovsk small displacement engine plant is currently underway. The new venture is expected to produce 13,000 pieces of electrical equipment annually. The project implementation is to cost 7 billion tenge ($16.6 million).
“The plant will be one of the most modern and technologically advanced facilities in the CIS. The equipment will be delivered from Europe. The main task this year is to complete the construction and installation work, to start interior works in wintertime and at the beginning of next year, we will start installing technological equipment and will launch the plant approximately in 3Q2021,” Sultan Ilyasov, Business Development Director of Alageum Electric JSC said.
The construction of the plant will also ensure development of the economic and industrial potential of North Kazakhstan increasing the revenues of the regional budget. The project will be implemented at the Qyzyljar Special Economic Zone.
The project implementation will allow to both reduce the share Kazakhstan’s electricity goods import and also increase the country's export potential as nearly 95 percent of manufactured products will be exported.
Alageum Electric is Kazakhstan’s largest electrotechnical company, includes more than 30 large enterprises and plants successfully operating in the field of electric power, electric machine industry and construction.
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