Samruk-Kazyna and Indonesian Multistrada agreed on tire plant in Kazakhstan

Samruk-Kazyna National Welfare Fund and Indonesian company Multistrada have agreed on construction of a tire factory in Kazakhstan, KazTAG reports citing deputy chairman of Samruk-Kazyna Kuandyk Bishimbayev. “We have signed two memorandums today. One of them is signed between Samruk-Kazyna and Multistrada for production of tires in Kazakhstan,” he said on Friday, April 13, at the business forum held during Nursultan Nazarbayev’s visit to Indonesia. According to him, Multistrada is a major producer of tires in Indonesia and in the region in general. “We have agreed that we will jointly prepare and technical-economic justification to study the possibility of setting up the tire production in Kazakhstan. We will consider not only Kazakhstan’s market, but also the market of the Customs Union that will significantly increase the number of consumers,” Bishimbayev said. “We are interested as there is no tire production in Kazakhstan. The old tire plant, unfortunately, cannot operate at a sufficient capacity: the technologies are old and the self-cost is too high. This will be a totally new plant furnished with new technologies,” he added.