...

Kazakh, Uzbek companies agree on joint manufacturing of kitchen stoves, water heaters

Business Materials 21 January 2021 15:33
Kazakh, Uzbek companies agree on joint manufacturing of kitchen stoves, water heaters

BAKU, Azerbaijan, Jan. 21

By Nargiz Sadikhova - Trend:

Akimat (administrative center) of Kazakhstan's Turkestan region, Orbis Kazakhstan, and Uzbekistan’s Artel Electronics companies signed a trilateral cooperation agreement, Trend reports citing the press office of Kazakhstan’s government.

The agreement was signed during the working visit of Kazakhstan’s Prime Minister Askar Mamin to the region, where he got acquainted with the construction progress of infrastructure facilities in Turkestan city.

The signed agreement provides for the construction of a plant for the manufacturing of kitchen stoves and electric water heaters in the region.

The future plant’s capacity is expected to be 1 million units of equipment per year. The planned volume of investments is 36 billion tenge ($85.7 million). The enterprise will provide for the creation of 2,100 new jobs.

The value investments in the fixed capital of Turkestan city increased by 3.8 times in 2020 compared to 2019 and amounted to 367.6 billion tenge ($875.2 million). The main share of investments was allocated for tourism, logistics, and real estate.

Investments in fixed assets of the Turkestan region amounted to 703.3 billion tenge (1.6 million) in 2020, which is 60 percent more than in 2019.

The volume of investments in construction work increased by 65.8 percent to 299.9 billion tenge ($714.04 million). The region leads in terms of investment growth and growth in the gross regional product.

---

Follow the author on Twitter: @nargiz_sadikh

Tags:
Latest

Latest