Plant to be constructed in Kazakhstan to produce Korean cars KIA

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The South Korean company KIA Corporation plans to complete the construction of a plant for the production of Kia cars in Kazakhstan by the end of 2024, the press service of the President of Kazakhstan Kassym-Jomart Tokayev reported following his meeting with the President of the Kia Corporation, Son Ho Sunom.

“Son Ho Sun told Tokayev about the progress of construction of a full-cycle car production plant in Kostanay, which will be completed before the end of this year. More than 90 billion tenge (over $202 million) of investments were attracted to implement the project. It is planned to create 1.5 thousand permanent jobs,” the statement says.

The design capacity of the plant will be 70 thousand cars per year, including 50 thousand cars will be produced using the small-unit assembly method, that is, with a higher share of local content.

The head of the South Korean company also informed about the ongoing work to attract global suppliers of automotive components. In particular, an agreement of intent was signed with the Korean company Seyong EHWA (a global supplier of auto components for Kia) on the construction of an auto components plant in Kazakhstan.

The President of Kazakhstan welcomed KIA’s decision to localize the production of auto components in the country, and also noted the need to train local qualified specialists for the development of the industry.

CentralAsianLIGHT.org

April 24, 2024