South Korean corporation Hyundai plans to invest in the development of a project for the construction of tractors in the Turkestan region of Kazakhstan. This was announced by Geunho Nam, a senior vice president of the corporation, during a working meeting with the ambassador of the Republic of Kazakhstan in South Korea, Bakhyt Dyusenbayev, held in Seoul, Khabar agency reported.
As noted during the meeting, the specified enterprise in the Turkestan region was commissioned in 2015 and in the first 2 years produced about 120 units of agricultural equipment. However, production then declined due to low demand and financing.
At the first stage of the project, the Korean side intends to invest in the development of marketing and marketing of tractors. The corporation also plans to organize an internship for plant employees at its facilities in Korea. On all these issues in the near future the delegation of the automaker intends to hold talks in Nur-Sultan.
“As a result, we plan to increase the production of tractors up to 10 thousand units per year. I think that there is opportunity and demand for this. For us, this is a good market, and for Kazakhstan it is an opportunity for the development of the agricultural industry, ”emphasized the Vice President of Hyundai.