ASTANA, Kazakhstan, April 23. The construction of a full-cycle KIA car production plant in the Kazakh Kostanay city will be completed by the end of 2024, сказал said President of KIA Corporation Ho-Sung Song, Trend reports.
He made the remark during a meeting with President of Kazakhstan Kassym-Jomart Tokayev.
According to him, more than 90 billion tenge (about $202 million) of investments were attracted to implement the project. It is planned to create 1,500 permanent jobs.
The design capacity of the plant will be 70,000 cars per year, including 50,000 cars that will be produced using the small-unit assembly method, that is, with a higher share of local content.
Ho-Sung Song also informed about the ongoing work to attract global suppliers of automotive components. In particular, an agreement of intent was signed with the Korean company Seyong EHWA (a global supplier of auto components for KIA) on the construction of an auto components plant in Kazakhstan.
In turn, Tokayev noted that the development of the auto industry is one of the key areas of Kazakhstan’s industrial policy.
He also welcomed KIA's decision to localize the production of auto components in Kazakhstan and noted the need to train domestically qualified specialists for the development of the industry.
Meanwhile, construction of a full-cycle plant has started in Kostanay, Kazakhstan, in 2023.