Siemens to localize production of machinery, electrical, automation equipment in Kazakhstan

ALMATY. Sept 16 (Interfax) - Kazakhstan's National Wealth Fund Samruk-Kazyna JSC and the Kazakh subsidiary of Germany's Siemens have signed a partnership agreement on localization of production in Kazakhstan, the Fund's press service reported.

"It is aimed at the gradual localization in Kazakhstan of measuring equipment, production automation equipment and electrical equipment. The document was signed during the official visit of German Chancellor Olaf Scholz to Kazakhstan," the Samruk-Kazyna statement said.

The agreement provides for the supply of equipment and materials for the localization of production, the creation of joint production in Kazakhstan, personnel training and more, the Fund said.

Kazatomprom and its subsidiary, KAP Technology LLP, entered into a strategic cooperation agreement with Siemens in November 2023 to further enhance digitalization and automation initiatives within the national company's subsidiaries.

KazEnergoPower LLP and Siemens signed an agreement in July 2023 on localizing the manufacturing of medium-voltage switchgears for Kazakhstan's energy industry.

Samruk-Kazyna manages the largest strategic companies in Kazakhstan, including Kazakhtelecom, Kazatomprom, KazMunayGas, Kazpost, Kazakhstan Temir Zholy, KEGOC and others.