Georgian investors set up the second production of tractors in Kazakhstan
Georgian investors of the Georgian Industrial Group will produce tractors of the Chinese brand YTO in Kazakhstan. Earlier, MIIR RK and investors signed an agreement on the industrial assembly of agricultural machinery. In addition, in March this year, with the support of KAZAKH INVEST NC JSC, investors signed a special investment contract. Under the agreements signed, investors will be exempted from import customs duties and VAT.
The company is implementing this project in cooperation with a Chinese state-owned company. Investors plan to produce up to 500 tractors with a capacity of 90 to 130 horsepower annually.
“In August 2020, we actively began work on possible cooperation with a potential partner with China - YTO GROUP, which is the main division of the state national corporation SINOMACH. It is a reliable partner, one of the top 15 largest companies in China. I believe that the production of such equipment in Kazakhstan will give an impetus to the development of the agricultural machine-building and agro-industrial complex industries,” said the director of Cheka Kazrost Engineering Ltd. Daryn Imanmusayev.
The total investment in the project will amount to $ 5 million. It is planned that the first tractors will leave the assembly line of the enterprise in May this year. According to investors, the project will create 50 permanent jobs.
“Today the level of depreciation of the agricultural machinery park in Kazakhstan is about 76%. This is a depressing indicator. For the active development of the agro-industrial complex, we need high-quality agricultural machinery. This will increase productivity, increase the competitiveness of our products,” said the project manager of JSC“ NC “KAZAKH INVEST” Ainur Zhumanbaeva.
To date, KAZAKH INVEST assists in the implementation of 11 more projects in the field of agricultural machinery for $ 200 million. Three projects were put into operation in 2019 - 2020, currently work is underway to expand production capacity and deepen localization. The projects are implemented by investors from the USA, Germany, Russia, Ukraine, and other countries near and far abroad.
It should be noted that this is not the first investment project in the territory of Kazakhstan for the investors of the Georgian Industrial Group. Earlier, businessmen set up production of Acros and Vector combines in the Akmola region.
