BAKU, Azerbaijan, Dec.7
By Natavan Rzayeva- Trend:
Uzbek Uzavtosanoat JSC and Kazakh AllurGroup companies have created a joint venture for the assembly of small-tonnage Chevrolet vehicles at the Kostanay SaryarkaAvtoProm plant in Kazakhstan, Trend reports via the press-services of Uzbek company.
This investment project is estimated at $65 million. It is planned to launch modern high-tech production on the basis of SaryarkaAvtoProm, which will increase the localization and export potential of the economies of the two countries. The agreements reached on supporting the investment and economic activities of the two companies will be implemented gradually.
Recently, during the 4th meeting of the Kazakh- Uzbek Business Council, held in the capital of Kazakhstan the governments of the two countries reached bilateral agreements in the field of mechanical engineering in amount of more than $500 million.