China invests 40 million dollars in implementation of the Kazakhstan cars project

Developing of a national Kazakhstan automobile brand together with the Chinese company will be started in the Kostanay region. Within the cooperation, delivery and installation of processing equipment will begin in summer 2016, governor of the Kostanay region Archimed Mukhambetov said at a press conference in CCS, correspondent reports.
"In August of last year, the Agreement on strategic partnership and development of the National Kazakhstan automobile brand which provides development of machine-building branch is signed between Saryarkaavtoprom LLP, the Chinese companies ChinaMachinerycompany (CMC) and JAC Motors.
Within this Agreement, the Saryarkaavtoprom LLP together with the Chinese company JAC of Motors plans to implement the project on production of JAC cars by method of small nodal assembly," he said.
According to region's governor, the first order of vehicle sets of JAC for the sum of 5 million dollars are invested by the CMC. In total it is planned to invest to 40 million dollars.
Delivery and installation of processing equipment are planned for June-July, 2016.