Kazakhstan, Russian Tatneft agree on timeframe for production of tires
BAKU, Azerbaijan, Nov. 4
By Nargiz Sadikhova - Trend:
The construction of a tires manufacturing plant is to be launched in Kazakhstan’s Saran city of Karaganda region in March 2021, Trend reports citing the regional akimat (administrative center).
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.
The signed agreement is another step in the development of the joint TATNEFT and Kazakhstan project to create a joint tyre manufacturing enterprise.
The overall investments volume into the project will be around 111 billion tenge ($255.7 million). The plant will be producing the new types of tires – Made in Kazakhstan – which will take into account the climate specifics of the region.
The plant commissioning is expected in 2022. The plant’s project capacities are to be reached by 2025: 3 million passenger and light truck tires, as well as 0.5 million commercial vehicle tires per year.
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.
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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