BAKU, Azerbaijan, May 11. Kazakhstan plans to implement 36 large projects worth 230 billion Kazakh tenge ($517.5 million) in the machinery industry, Ilyas Ospanov, Vice Minister of Industry and Infrastructure Development said during a briefing at the Central Communications Service under the President of Kazakhstan, Trend reports via the service.
According to him, the machinery industry is an integral part of any industrially developed economy, as it ensures the stability of the activities of all sectors of the economy.
He noted that currently, the machinery industry accounts for 6 percent of Kazakhstan's industrial sector. This represents only around 1.5 percent of the country's GDP, and there is certainly much more work to be done in this area.
"There are currently 3,800 enterprises operating in the machine-building industry of Kazakhstan. According to statistics, 116,000 people are employed at these enterprises. In 2022, the volume of output reached 3.1 trillion Kazakh tenge ($6.9 billion). This shows an increase of 31 percent compared to 2021. In particular, the launch of 250 investment projects worth more than 230 billion Kazakh tenge ($517.4 million) in 2022 contributed to this," the vice minister said.
Following the results of three months of this year, the industry has become one of the leaders with production increasing by 36 percent and reaching a value of 829 billion Kazakh tenge ($1.8 billion). The industry's growth has been a remarkable 135 percent.
"In addition, 36 projects worth about 230 billion Kazakh tenge ($517.5 million) are planned to be implemented in the industry in 2023, including the establishment of an iron foundry for truck components, a wind power plant tower production facility, a household appliance manufacturing plant, an oil equipment plant, and a mobile drilling rig production facility," he added.
