Automotive industry grew by 51.8%

Production volumes in the machine-building industry increased by 16.3% in the first 8 months of this year. The automotive sector provided growth by 51.8%.

During this period, about 45 thousand cars were produced.

"The launch of a plant for the production of Hyundai passenger cars (Hyundai Trans Kazakhstan LLP) in Almaty with a capacity of 45 thousand units per year will ensure a twofold increase in the capacity of the domestic automotive market," Minister of Industry and Infrastructure Development of Kazakhstan Beibut Atamkulov informed at a Government meeting.

He also said that a large-scale project is being launched in Kostanay region to form a large machine-building cluster, which will produce components for agricultural machinery and cars. "The production complex with area of 38 thousand square meters will be commissioned in December this year, with attainment of projected capacity next spring. Business incubator will contribute to the growth of the share of Kazakhstan content by localizing more than 2,000 parts and assemblies necessary for agricultural machinery and automobile manufacturers in the country, which will also contribute to the development of new competencies. Foundry production of components for KAMAZ engines will be established in the industrial zone of Kostanay," the Head of Department added.

It is worth noting that 95% of manufactured products are export-oriented.