Kazakhstan Partners With U.S. And S. Korea For Aluminum Wheel Manufacturing

2026-02-05 03:07:36

(MENAFN- Trend News Agency) ASTANA, Kazakhstan, February 5. Kazakhstan has signed a trilateral memorandum with partners from the U.S. and South Korea to create a joint venture for the production of aluminum wheels, aimed at localizing automotive manufacturing and strengthening the country's industrial potential, Trend reports via the press office of the Kazakh Government.

The memorandum was signed during a meeting of First Deputy Prime Minister of Kazakhstan Roman Sklyar with CEO of U.S.-based Open Element, Mustapha Akkari, and Chairman of South Korea's Hands Corporation Seung Hyeonchang. The other attendants from the Kazakh side were the founder of Astana Motors, Nurlan Smagulov, the CEO of Astana Motors, Beknur Nesipbayev, and the president of the Kazakhstan Automobile Association, Anar Makasheva.

The initiative envisions the establishment of a state-of-the-art, high-tech plant, the first of its kind in Kazakhstan, capable of a complete production cycle for aluminum wheels, incorporating the transfer of cutting-edge engineering and manufacturing technologies.

This new facility is anticipated to significantly reduce the nation's reliance on imports, stimulate the development of related industries, and bolster the growth of Kazakhstan's domestic automotive sector. Foreign partners have highlighted Kazakhstan's rapidly expanding automotive market as a key factor influencing the decision to base the project there.

The initiative aligns with Kazakhstan's broader, long-term strategy to position itself as a leading producer and supplier of auto components for both the domestic and regional markets.

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