In March of this year, JSC ”Development Bank of Kazakhstan” (a subsidiary of JSC "national managing holding "Baiterek", hereinafter referred to as DBK, Bank) opened a credit line to LLP “Hyundai Trans Kazakhstan” (hereinafter referred to as the Borrower, a subsidiary of Astana Motors) for the construction of a plant for the production of Hyundai cars. The plant was built within the framework of the State Program for Industrial and Innovative Development of the Republic of Kazakhstan. The total investment in the construction of the plant is more than 28 billion tenge, DBK will provide a loan in the amount of 12.8 billion tenge for a period of 15 years. The project is also financed by the Bank's subsidiary, JSC “Industrial Development Fund”, in the amount of 7.4 billion tenge. The rest of the required investment will be provided by the Borrower.
The new plant was built in the industrial zone of Almaty, the area of the plant is 34 thousand square meters. m on 25 hectares. The capacity of the enterprise at the first stage is 30 thousand cars per year, at the second stage - up to 45 thousand cars per year.
The Bank's loan funds provided financing for construction and installation works, which included the construction of a car Assembly shop, a body welding shop, a paint shop, a plastic panel painting shop, a component warehouse, administrative and auxiliary premises were built on the territory of the enterprise.
The plant is capable of producing modern passenger cars of the entire model range of the Hyundai brand using the latest equipment and using advanced technologies from South Korea. The assembly line will roll off both budget cars Accent, Elantra, and business class cars Sonata, off-road vehicles Creta, Tucson, Santa Fe. The design capacity of the plant at the first stage is 30 thousand units per year, at the second stage - up to 45 thousand units per year. The first cars assembled by the small-node method will be on the market in early 2021.
The plant currently employs 350 people. When reaching full design capacity, about 700 Kazakhstanis will be provided with jobs.
The Kazakhstani auto industry is one of the 12 priority areas of industrial development of the non-resource sector and is the object of consistent government support. The Bank's loan portfolio already includes a number of projects in the automotive industry, these are major car manufacturers in Kazakhstan, which are successfully implementing their activities and developing export direction.
“The bank has the necessary competencies in the field of automotive projects and we highly appreciate the potential of the new plant, which will allow customers to purchase high-quality cars at an affordable price. It is worth noting the ability of the plant to export its products to the CIS countries, which will also make it possible to contribute to the development of the export potential of our country ”, - noted the Chairman of the Board of DBK Abay Sarkulov.
In future, Astana Motors plans to build a plant for the production of auto components. Thus, the company will achieve the set goals for the development of the domestic auto industry - to ensure more than 51% of localization and export to the CIS countries.
“Hyundai Trans Kazakhstan is a modern plant of a new format. Astana Motors has been operating in the Kazakh automotive market for 28 years and its own production of passenger cars is a key development stage for the company. We have created unique conditions for the formation of professional personnel, high quality standards of Hyundai at the new enterprise will be ensured by 700 qualified Kazakhstani specialists, and taking into account the multiplier effect, this will be more than 1000 employees in various fields of activity, ” said Nurlan Smagulov, President of Astana Motors.
According to him, during the construction of the plant, its environmental component was taken into account, the project of the Hyundai Trans Kazakhstan plant was developed with the modern technologies of the global automotive industry, as well as the requirements of environmental standards was taken into account. The designer of the construction of the Hyundai plant is JSC “KazNIISA”, the general contractor for the construction is LLP “RAMS KAZAKHSTAN”. The enterprise is equipped with the latest equipment made in South Korea. The plant equipment was installed by specialists from Hyundai Motor Company and Youngsan (Korea).
JSC ”Development Bank of Kazakhstan” (DBK) is a national development institute for the modernization and development of non-resource and infrastructure sectors of the economy of Kazakhstan, established in 2001. Main areas of activity: development of production infrastructure and manufacturing industry, assistance and attraction of external and internal investments in the country's economy. DBK is one of the largest investment operators of state programs for industrial and innovative development. DBK is a part of JSC "national managing holding "Baiterek".
Public relations department JSC ”Development Bank of Kazakhstan”: +7 (7172) 79 26 08 (www.kdb.kz, facebook.com/kdb.kz, Twitter@KDBkz)
