23.04.2024, 19:22 27766

Construction of car plant set to be completed by yearend in Kostanay

Construction of car plant set to be completed by yearend in Kostanay
Images | Akorda
Head of State Kassym-Jomart Tokayev held a meeting with KIA Corporation President Song Ho-Sung during which he stressed that the development of automotive industry is one of the key areas of the industrial policy of Kazakhstan, Kazinform News Agency cites Akorda.

Song Ho-Sung briefed Tokayev about the construction of a full-cycle plant for production of cars in Kostanay city set to be completed by the end of this year.

Up to 90 billion tenge worth of investments were funneled in the project’s implementation. 1.5 thousand permanent jobs are set to be created.

The project’s design capacity will be 70 thousand cars per year, of which 50 thousand cars are to be produced using the small node assembly method, meaning a higher share of local content.

The KIA Corporation President also briefed about the work ongoing to attract global suppliers of automotive components. In particular, an agreement of intent was signed with South Korea's Seyong EHWA on construction of a plant of automotive components in Kazakhstan.

The Kazakh President welcomed the decision of KIA Corporation to localize the production of automotive components in the country as well as noted the importance of preparation of domestic qualified specialists to develop the industry.
 

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