Hyundai to build car factory in Almaty
The head of state Nursultan Nazarbayev met with the president of the group of companies "Astana Group" Nurlan Smagulov, according to the press service of the President of the Republic of Kazakhstan. During the meeting, Nursultan Nazarbayev was informed about the execution of instructions for the further development of the domestic auto industry.
Nurlan Smagulov reported to the President on the start of construction by Astana Motors of a Hyundai passenger car production plant in Almaty. "The capacity of the enterprise at the first stage will be 30 thousand cars, and at the second stage - up to 45 thousand per year. This will allow filling the Kazakhstani market with high-quality and affordable Hyundai cars, as well as export them to the CIS countries. The total investment in the project will amount to 25 billion tenge. In addition to its own funds, the borrowed funds will also be raised on commercial terms. The opening of the plant will create 700 new jobs," said the head of the company.
At the end of the meeting, Nurlan Smagulov thanked the President of Kazakhstan for the continued support of the development of Kazakhstan business and the decision on a car loan program, similar to the mortgage housing program "7-20-25."