A Korean Company Plans to Launch Elevator Production in Kazakhstan
During a meeting with the leadership of the major Korean company "Ofe Co., Ltd", investors discussed the ongoing work to establish an innovative elevator manufacturing plant. The project's implementation is envisioned to proceed through multiple stages, including the establishment of an R&D center for elevator development and an educational center, the construction of a specialized testing tower, and the opening of an elevator and components manufacturing plant.
It's worth noting that in June of this year, the project received financing approval from the South Korean Government, prevailing over other projects from 27 countries around the world. In the initial phase of the project, the company plans to invest over $8 million to create an elevator production hub in Central Asia.
The President of "Ofe Co., Ltd", Ham Young Cher, emphasized that the company intends to execute the project with a high degree of production localization, involving Korean manufacturers in producing components. According to him, the company plans to supply its products to local and neighboring markets. Additionally, the training of new skilled personnel will be facilitated through research centers.
In turn, Deputy Chairman of the Board of KAZAKH INVEST, Zhandos Temirgali, highlighted that the engineering industry has been rapidly advancing in the country in recent years, and the national company will provide maximum assistance to expedite project realization, particularly in terms of its localization within Special Economic Zones (SEZs). He underscored that Kazakhstan is currently a leader in the region in terms of the volume of residential and commercial property construction.
The implementation of this project will contribute to economic growth and strengthen economic cooperation between Kazakhstan and South Korea, while significantly contributing to infrastructure development and stimulating innovation.
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"Ofe Co., Ltd" is a major South Korean company specializing in elevator production, as well as agricultural machinery and automatic equipment. Additionally, the company deals with technology transfer for post-sales management, maintenance, technology development, product safety assurance, research and development, and conducts training seminars and workshops.
