Assets of Kazakhstan Engineering reached 40 billion tenge

The assets of Kazakhstan Engineering reached 40 billion tenge ($267 million), Tengrinews.kz reports citing the company’s head Bolat Smagulov. “In 2012 the company’s assets almost doubled and reached 40 billion tenge, while its profit grew almost 4-fold and made 75 billion tenge ($500 million). We brought the company out of the last years’ losses. We finished 2011 with a profit of over 2 billion ($13 million), which is higher than last years’ results. The profits from sales reached 50 billion tenge ($333 million), which is 2-times more than in 2010. "Last year we increased export by 27 percent. In 2012 we increased the sales 1.5-fold. By 2015 the growth will make 2.5 times compared to 2011. Basically we are performing 75 percent of the state defense order,” chairman of Kazakhstan Engineering Bolast Smagulov said. According to Smagulov, there are around 6 thousand people working at the national company’s facilities. “Currently we have a very high efficiency. We build ships of up to 600 tons, we produce wagons, sell pipes, repair cars and robots, supply radio stations. We export goods to Russia and China. We sell tens of thousands of items to Kazakhstan's Defense Ministry and supply equipment for all military and civil forces. We assemble KamAZ trucks and produce all kinds oil and gas equipment,” Smagulov said. By Gulnara Zhandagulova