12 Jan 2023 12:06

Technopark KZ, Russia's Luidor to start commercial vehicle project in 2023

ALMATY. Jan 12 (Interfax) - Kazakhstan's Technopark KZ LLP and Russia's Luidor plan to launch the production of special-purpose commercial vehicles in Kostanay in 2023, according to the Kostanay Department of Entrepreneurship and Industrial Innovation.

The cost of the project is estimated at 2.9 billion tenge or $6.3 million with capacity of 600 vehicles per year.

"The JV is seeking to raise 1.9 billion tenge from the Industrial Development Fund. All issues on the application for financing are expected to be finalized by the end of January. The purchase of equipment and the launch of the production is scheduled this year," the department said.

Technopark KZ LLP is engaged in the transportation of goods and forwarding services.

Luidor Group distributes passenger automobiles, trucks, trailers, and other motor vehicles. The company has three workshops to modify and customize buses and other commercial vehicles and a workshop for the production of auto components and bus seats.