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Kostanay rgn governor and investors mull over car industry development

12 December 2018 18:27

KOSTANAY. KAZINFORM- Governor of Kostanay region Arkhimed Mukhambetov chaired in Kostanay a meeting on the acquisition of a share in the capital of AllurGroup by China National Machinery IMP. & EXP. CORP, a subsidiary of Genertec, Kazinform correspondent reports.

The head of the region thanked Genertec (China General Technology Group), a strategic partner from China, for the openness to cooperation.

"Automotive industry is a new dynamically developing sector of mechanical engineering not only in our region but also in Kazakhstan as a whole. This year, the region has produced twice as many cars as it produced last year. In contrast to 2016, we have increased productivity by six times," said Mukhambetov.

The governor underlined that in the furtherance of the Head of State's instruction, the region is faced with the target of increasing the automotive output aimed at exporting. By 2023, according to the governor, Kostanay car factory is to manufacture up to 60 thousand cars.

Развитие костанайского автопрома обсудил Архимед Мухамбетов с инвесторамиTherefore, the local administration and the regional authorities expressed their support for further collaboration with China's Genertec.

Lu Yimin, President at Genertec, said that signing the agreement with Allur is a symbol of the beginning of a new phase of cooperation and noted the tremendous work done by Kazakh partners. He expressed confidence that the joint project will help develop Kazakhstan's automotive industry and increase the level of localization.

It is to be recalled that on December 11, First Deputy Prime Minister of Kazakhstan Askar Mamin held talks in Astana and attended the signing of the investment agreement on the acquisition of a 51-percent share in the capital of Saryarka AvtoProm, the largest Kazakhstani automaker, by China National Machinery Import and Export Corporation.