Tatneft and Allura JV launches tire manufacturing in Kazakhstan
KAZAN. Dec 13 (Interfax) - KamaTyresKz LLP, a joint venture between PJSC Tatneft and Kazakhstan's Allur, on Tuesday began manufacturing tires at a new plant in the city of Saran in the Karaganda Region of Kazakhstan, the press service of Tatarstan's President Rustam Minnikhanov, chairman of Tatneft's board of directors, said in a statement.
"The launch of the first products of the PJSC Tatneft and Kazakh Allur JV took place in the city of Saran. The first tire rolled off the conveyor belt today at KamaTyresKz, manufacturer of automobile tires, in the Karaganda Region," the press service said.
Joining Minnikhanov at the launch ceremony were Tatneft head Nail Maganov, Kazakhstan's First Deputy Prime Minister Roman Sklyar and Allur's chairman of the board of directors Andrei Lavrentyev.
As previously reported, construction began in April 2021 on the KamaTyresKz tire plant in Saran, with plans to bring manufacturing to full capacity in 2024.
The enterprise's annual output capacity will be 3.5 million tires with a diameter of 13 inches to 24 inches, at three million tires for passenger vehicles and 500,000 tires for commercial vehicles and buses. The plant is planned to start manufacturing rubber products, including conveyors, conveyor belts, and other products at the second stage; and to begin producing tires for agricultural machinery at the third stage.
Tatneft previously had its own tire business in Russia; however, the company sold it in 2022 to Tatneftekhiminvest Holding, an entity that manages the activities of enterprises in Tatarstan's petrochemical complex.
Nokian Tyres, which had announced its exit from the Russian market this summer, reported at the end of October that it was selling its assets in Russia to Tatneft. The parties signed an agreement, and the transaction price is expected to be around 400 million euros, though it could be adjusted depending on a number of factors, including net cash and working capital adjustments, as well as changes in exchange rates, Nokian said in a statement.