BAKU, Azerbaijan, Sept. 29
Trend:
Kazakhstan’s Allur Group of Companies, Karaganda region’s akimat (administrative center) and Russia’s TATNEFT PJSC signed an investment agreement on the establishment of a joint tire venture, Trend reports citing TATNEFT.
The document reflects basic agreements of the partners on measures to implement the project for the construction of a tyre manufacturing factory in Kazakhstan.
The signed agreement is another step in the development of the joint TATNEFT and Kazakhstan project to create a joint tyre manufacturing enterprise.
The establishment of a joint venture envisages the construction of a new factory in Kazakhstan with a production capacity of 3 million passenger and light truck tyres, as well as 0.5 million commercial vehicle tyres per year. The production is expected to start in 2022.
Manufactured tires will be sent to the primary assembling of cars manufactured in Kazakhstan, to the secondary market, as well as for exporting to neighboring CIS countries. In general, the new tyre production in Kazakhstan will be aimed at saturating the market throughout Central Asia.
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.
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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