Kazakhstan plans to invest 8 bln tenge in furniture industry
The investment portfolio of the country's furniture industry currently comprises nine projects with a combined value of over 17 billion tenge, Kazinform News Agency has learned from the Industry Committee of the Kazakh Ministry of Industry and Construction.
According to the Directorate for Monitoring and Analysis of Project Implementation of the Qazindustry, the project's implementation is to create approximately 1,000 jobs. Four projects were commissioned in the Turkistan region this year at a cost of approximately 9.2 billion tenge. The new production lines have created 375 jobs. The majority of Turkistan products are designed for the local market.
Furthermore, the launch of a new project in the Pavlodar region is scheduled for the year end. The commencement of production of the office and school furniture, representing an investment of 388 million tenge, is expected to create approximately 30 jobs.
Three projects in Shymkent, with a total investment of 800 million tenge and 102 jobs created, are currently in the implementation phase. It is therefore the intention to manufacture furniture, medical furniture and metal cabinets. Approximately 9% of the manufactured products will be exported to countries both nearby and abroad.
On top of that, a project for the production of cabinet office furniture in the Abai region is currently being developed at an estimated cost of 7.5 billion tenge, with the potential for the creation of 530 jobs. The project is primarily financed by China.
The implementation of the planned five projects will result in an additional 8 billion investment in the fixed capital of the furniture industry over the coming years. The projects are primarily focused on meeting the domestic needs of the country. The principal investors are Kazakhstan and China.
Source: en.inform.kz
