/REUTERS, Almaty, Tatyana Seroshtanova, March 13, 07, title IRBIS/ - Kazakhstan auto-assembling enterprise Azia-Auto together with south- Korean subdivision of General Motors - GM Daewoo Auto & Technology - intends to construct in year 2007 1.300 automobiles Chevrolet, spending on it $50 m.

"It is expected that starting from June 1 of the current year will start the serial production of so-called family automobile Chevrolet Lacetti, sedan of business-class Сhevrolet Epica, and the completely new model of off- roader, represented to the world community only in the autumn of year 2006 - Chevrolet Captiva", - it is said in the message of the company on the web- site www.aziaavto.kz.

Azia-Auto, which assembly production is situated in Ust-Kamenogorsk on the east of Kazakhstan, is issuing the models of Russian AutoVAZ and Skoda Auto, belonging to German auto-concern Volkswagen AG. Azia-Auto is entering the group of companies Bipek Auto.

"Investments into the project, according to preliminary data, are estimating at $50 m.", - informed by phone from Ust-Kamenogorsk the vice president of production Alexander Lysyakov.

Company is planning to invest into the project not only own funds and credits, but also to borrow the funds from offering of securities on Kazakhstan stock exchange, where the company had already offered the first issue of bonds.

The oriented cost of Chevrolet Lacetti in the basic integration is $14.000, Epica - $22.000.

The auto-construction plant is also planning to construct in the current year 2.000 Skoda automobiles and 2.500 Lada automobiles.

($1=KZT123.34)

[2007-03-13]