ASTANA MOTORS GETS THE RIGHT TO LOCALIZE KOREAN BRAND CAR COMPONENTS IN KAZAKHSTAN
The Kazakh company will produce Hyundai car components in Almaty. The enterprise is scheduled to be launched in early 2024.
Today, during the official visit of Kazakhstan’s government delegation to Korea, Astana Motors signed a contract with Youngsan Glonet Corp. Ltd. for the right to produce car seats using the Youngsan technology.
The signing ceremony was attended by Kazakhstan First Deputy Prime Minister Roman Sklyar, Youngsan Glonet Corp. Ltd. Chairman Jong Bum Park, Kazakhstan Auto Business Association Vice President Anar Makasheva, Astana Motors Car Component Complex Director Askar Ibrashev, and other officials.
The ceremony of signing a contract with Motrex Co Ltd., which grants Astana Motors the right to produce multimedia devices using the Motrex technology in Kazakhstan, will also take place on April 14, 2023, during the visit of the Kazakh delegation to Seoul.
“Astana Motors has successfully set up the Hyundai Trans Kazakhstan car plant in Kazakhstan and set a course for industrialization. Assisted by the Government and the Ministry of Industry and Infrastructure Development of the Republic of Kazakhstan, the country is actively promoting localization. For our part, we are establishing a technology park in the Almaty Industrial Zone that will contribute to the development of small and medium businesses and creation of a pool of skilled car-making professionals. By developing the production of car components, we are expanding localization and building up a cluster economy. We thank our new partners, Youngsan Glonet Corp. Ltd. and Motrex Co Ltd., for their trust and are glad to start cooperation,” Astana Motors CEO Beknur Nessipbayev underlined.
It should be reminded that Astana Motors is currently at the design stage for construction of a complex of plants for the production of car seats, polyurethane rugs, wheel arch covers, splashguards and multimedia systems for Hyundai cars on an area of over 10 hectares in the Almaty Industrial Zone jointly with foreign partners experienced in the production of car components in foreign countries. The complex of new enterprises will be located near the operating Hyundai Trans Kazakhstan plant.
Investments in the construction of the car component production complex will total about 6.8 billion tenge, including some 0.9 billion tenge for setting up the multimedia production, up to 4.3 billion tenge for the car seat plant, and some 1.6 billion tenge for the enterprise producing rugs, wheel arch covers, and splashguards. The area of production facilities is over 7700 sq. meters. The enterprises will provide about 90 jobs.
The construction of the complex of car component enterprises is to start in the second quarter of 2023, while the launch is scheduled for the first quarter of 2024.