ASTANA, Kazakhstan, February 5. Kazakhstan has
signed a trilateral memorandum with partners from the U.S. and
South Korea to create a joint venture for the production of
aluminum wheels, aimed at localizing automotive manufacturing and
strengthening the country’s industrial potential,
Trend reports via the press office of the Kazakh
Government.
The memorandum was signed during a meeting of First Deputy Prime
Minister of Kazakhstan Roman Sklyar with CEO of U.S.-based Open
Element, Mustapha Akkari, and Chairman of South Korea’s Hands
Corporation Seung Hyeonchang. The other attendants from the Kazakh
side were the founder of Astana Motors, Nurlan Smagulov, the CEO of
Astana Motors, Beknur Nesipbayev, and the president of the
Kazakhstan Automobile Association, Anar Makasheva.
The initiative envisions the establishment of a
state-of-the-art, high-tech plant, the first of its kind in
Kazakhstan, capable of a complete production cycle for aluminum
wheels, incorporating the transfer of cutting-edge engineering and
manufacturing technologies.
This new facility is anticipated to significantly reduce the
nation’s reliance on imports, stimulate the development of related
industries, and bolster the growth of Kazakhstan's domestic
automotive sector. Foreign partners have highlighted Kazakhstan's
rapidly expanding automotive market as a key factor influencing the
decision to base the project there.
The initiative aligns with Kazakhstan’s broader, long-term
strategy to position itself as a leading producer and supplier of
auto components for both the domestic and regional markets.
