Photo credit: Akorda
Kazakhstan and South Korea’s Hyundai Motor Group have signed agreements covering the construction of a new gas processing plant in western Kazakhstan and the production of the latest Hyundai Tucson model in the country.
The agreements were exchanged following a meeting between President Kassym-Jomart Tokayev and Sung Kim, president and head of the strategic planning division at Hyundai Motor Group, according to Qazinform.
Under one agreement, QazaqGaz, Hyundai Engineering and SICIM Kazakhstan will cooperate on the construction of a gas processing plant in western Kazakhstan.
The project is expected to strengthen Kazakhstan’s gas processing capacity while deepening industrial cooperation between Kazakhstan and South Korean companies.
A separate agreement was signed by Hyundai Motor Company and Astana Motors to launch production of the new Hyundai Tucson model in Kazakhstan.
The deal is expected to further expand Hyundai’s local manufacturing footprint and increase the localization of automotive production in the country.
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