TATNEFT Strengthens Cooperation with Kazakhstan

Source: www.gulfoilandgas.com 3/26/2021, Location: Asia

TOO KamaTyresKZ (a joint venture of Tatneft-Neftekhim Management Company and TOO AllurTyres and the Ministries of the Republic of Kazakhstan have signed a package of agreements confirming the provision of state support measures for the construction of a tyre manufacturing factory in the Republic of Kazakhstan.

The documents have been signed by the Director of TOO KamaTyresKZ, representatives of the Ministry of Foreign Affairs and the Ministry of Industry and Infrastructure Development.

This package of investment agreements has been the next step in the development of cooperation between the Republic of Tatarstan and the Republic of Kazakhstan.

The documents signed with the Ministry of Foreign Affairs of the Republic of Kazakhstan regulate the main agreements of the parties on investment preferences during the construction of the factory, the investment obligations of TOO KamaTyresKZ, as well as the conditions for Kazakhstan to extend a land plot grant-in-kind for the implementation of the investment project.

The agreements with the Ministry of Industry and Infrastructure Development of the Republic of Kazakhstan are aimed at the long-term promotion of investments in the commercial-grade industrial production.

The joint venture establishment provides for the construction of a new factory in Kazakhstan with a capacity of 3 million passenger and light truck tyres, as well as .5 million of SSC truck tyres per year. The investments in the project are planned in the amount of 125 billion tenge (284 million US dollars). It is expected that the production will start in 2022. The factory is expected to reach the full design capacity in 2024.

There will be 1,116 jobs created within the project. Car tyres will be sent to Russia, Kazakhstan and Central Asian countries for the initial complete assembly of cars.


Netherlands/Holland >>  4/29/2021 - Neste, the world's leading producer of renewable diesel and sustainable aviation fuel produced from waste and residue raw materials, will modify its e...
China >>  4/27/2021 - The reporter learned from the Sinopec News Office that recently, the catalytic cracking technology of crude oil independently developed by the Researc...

China >>  4/27/2021 - Recently, Luoyang Petrochemical's 26 tons of polypropylene PPH-MN90B products were loaded into containers and shipped to Qingdao Port, ready to be shi...
India >>  4/19/2021 - Air Products, a world leader in industrial gases megaproject development and execution, announced that the Kochi Industrial Gas Complex is reliably su...

Italy >>  4/15/2021 - The Venice bio-refinery is preparing to eliminate the use of palm oil in its production of biofuels. Recently, it submitted documentation to qualify f...
China >>  4/14/2021 - CNPC and China Post held a meeting and entered into a strategic cooperation agreement in Beijing on April 6. Under the agreement, CNPC and China Post ...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.