Consortium Kazakhstan-KamAZ and Astana-Finance JSC about foundation of JV for bus production in Kokshetau

/Kazakhstan today, November 15, 04/ - Consortium Kazakhstan-KamAZ and Astana-Finance JSC intend to found a Kazakhstan-Russian venture for production of buses in Kokshetau. KZ-today was today informed about it by press-service of Astana-Finance JSC. The project is realized within the frameworks of activity of Kazakhstan-KamAZ consortium. On October 28 general director of KamAZ OJSC S. Kogotin, chairman of the board of Astana-Finance JSC K. Islamov and a member of the board of directors of Central-Asian fuel-energy company CJSC E. Amirkhanov signed the protocol of intentions about foundation of the joint venture for production of buses on the base of production areas of Kokshe JSC in Kokshetau. As specialists say, volume of investments into the project will be about $20-30 m. Production volume on the initial stage will be 200 city buses of big seating capacity and 1.5 th. buses of middle class. Increase of volumes up to 3 th. units a year is possible. Buses will be made on KazAZ chasses, Component parts will be made mainly at Kazakhstan ventures. According to results of marketing researches of the work group, which comprises specialists of KamAZ OJSC, Astana-Finance JSC, NC Kazakhstan Engineering OJSC, Tynys JSC, need in buses at Kazakhstan market is 4-4.5 th. units a year. [2004-11-15]