UzAuto concludes deals in Kazakhstan worth more than US$500 million
07/12/2021 11:02
UzAuto concludes deals in Kazakhstan worth more than US$500 million
07/12/2021 11:02
Tashkent, Uzbekistan (UzDaily.com) -- During the IV meeting of the Kazakh-Uzbek Business Council, held as part of the state visit of the President of the Republic of Uzbekistan Shavkat Mirziyoyev to the city of Nur-Sultan, UzAuto signed bilateral agreements in the field of mechanical engineering for more than US$500 million.
In particular, two leading automobile companies of Uzbekistan and Kazakhstan - Uzavtosanoat JSC and the Allur group of companies have created a joint venture for the development of small-tonnage (large-unit) Chevrolet vehicles at the Kostanay SaryarkaAvtoProm plant. An investment of US$65 million is planned for the project.
Given the high demand for Chevrolet cars in Kazakhstan, there is a mutual interest in further development of cooperation in the implementation of the project for the production of these cars in the Republic of Kazakhstan.
According to the agreements, 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.
Uzavtosanoat also signed a US$15 million contract with the Kazakh automobile manufacturer Kaztekhna to expand cooperation with Kazakhstan. In order to expand the range of products manufactured in Kazakhstan, the production of SINOTRUK HOWO trucks will be launched on the basis of Kaztekhn.
A number of agreements with Kazakh companies envisages the expansion of cooperation in the field of agricultural machinery. Uzavtosanoat and Agromashholding KZ signed a strategic partnership agreement in the amount of US$15 million for the development and sale of agricultural machinery, including tractors, in the Republic of Kazakhstan.
In addition to the main areas of engineering, agreements were reached with Kazakhstani companies on the implementation of modern digital solutions in the automotive market of the Republic of Uzbekistan in the amount of US$50 million.
It should be noted that industrial cooperation between Uzbekistan and Kazakhstan has a number of successful projects. From March 2020, Chevrolet will be launched in Kostanay together with UzAuto Motors, and this year SariarqaAvtoProm, together with SamAuto, will launch an inexpensive SAZ LE 60 bus.
In addition, since October 2019, cars produced by UzAuto Motors have taken leading positions in the ranking of the best-selling cars in Kazakhstan, the press service of Uzavtosanoat reports.
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