Kazakhstan's Virazh to direct 2.5 bn tenge to boost output capacity in Semei
ALMATY. Aug 26 (Interfax) - The Virazh Group in Kazakhstan plans to invest 2.5 billion tenge in the construction of a new shop for the assembly of GAZ vehicles on the premises of its SemAZ plant, CEO of Virazh LLP Vadim Kozyr has told Kazakhstan.
He said the shop's capacity is estimated to be 5,000 vehicles per year and will occupy up to 7,000 square meters. The opening of the assembly facility is planned for late 2020 - mid 2021.
SemAZ LLP, based in the city of Semei in East Kazakhstan region, produces Belarus tractors, Shacman, Ural, Foton, and GAZ vehicles.
The Virazh Group is a holding established in Kazakhstan in 1998, which assembles and delivers vehicles and their spare parts, and provides warranty services. The group has three assembly plants: SemAZ LLP, KAIK LLP, DAEWOO BUS LLP. It occupies more than 10% in Kazakhstan's buses and trucks automotive market, and nears 50% in the commercial vehicles segment.
The current official exchange rate is 386.34 tenge to $1.