ASTANA, Kazakhstan, August 4. KIA Corporation plans to build a plant for the production of KIA cars in Kazakhstan's Kostanay with the support of local authorities, CEO of the KIA plant Kim DeeKay said at the Kostanay 2023 Investment Forum, Trend reports.
The CEO expressed the company's strong commitment to fostering a close partnership with Kazakhstan, recognizing the nation's pivotal role as a strategic bridge connecting Europe and Asia. It is this strategic significance that motivated the decision to establish the first KIA plant in Kazakhstan.
It is planned to launch a full cycle of production of Korean-brand cars at the plant. According to Kim DeeKay, about $200 million will be allocated for the implementation of the project, of which $120 million will be used to purchase equipment and the remaining $80 million will be used to build the plant itself.
"The first construction work will begin this fall, and in August 2024, the installation of equipment is planned. By June 2025, the corporation plans to launch a full production cycle," said DeeKay.
Investors and local authorities firmly believe that the establishment of the KIA plant will have a positive ripple effect on the economic development of the region.
