UzAuto Motors has signed trade and investment agreements with companies in Kazakhstan for $ 570 million

    Investments 23 December 2022 1055

    During the business forum between entrepreneurs of Uzbekistan and Kazakhstan with the participation of Minister of Investment and Foreign Trade Jamshid Khodjayev and Deputy Prime Minister of the Republic of Kazakhstan Serik Jumangarin, UzAuto Motors, Development Bank of Kazakhstan and Allur Company (Kazakhstan) signed a number of agreements on the implementation of joint projects worth $ 570 million.

    JSC "UzAuto Motors" and "Development Bank of Kazakhstan" have reached an agreement on financing a project for the production of Chevrolet Onix cars in Kazakhstan by the small-node method with an annual volume of 30 thousand units per year at the facilities of the Allur automobile plant. Investments in the amount of about $ 50 million will be attracted for the implementation of the project, which will allow UzAuto to strengthen its position in Kazakhstan and develop other potential export markets.

    The agreement signed within the framework of the forum between UzAuto Motors and Allur on increasing the volume of exports of machine kits to Kazakhstan to the Allur plant in the amount of $500 million will also contribute to the expansion of the export potential of Uzbekistan.

    In addition to projects in Kazakhstan, UzAuto Motors has reached an agreement with Kazakh partners on cooperation on the implementation of a modern, innovative spare parts distribution center in Uzbekistan. The result of this agreement will be the attraction of investments in Uzbekistan in the amount of $ 20 million, as well as optimization of logistics chains and supply routes and reduction of freight transportation costs.

    In the long-term plan for the development of cooperation, the parties agreed on the possibility of updating and expanding the model range of cars, based on the needs of sales markets and consumer demand.

    Mutually beneficial cooperation in the automotive industry will give a new impetus to the economic development of the two states, will expand regional cooperation, thereby creating a strong foundation for the further development of export markets.