Top managers of TechnoNICOL and the head of Karaganda region of Kazakhstan signed a Memorandum of Cooperation
Sergey Kolesnikov, President of TechnoNICOL, met the head of Karaganda region Nurmukhambet Abdibekov to discuss the investment project. TechnoNICOL is planning to build several factories to produce Stone wool and XPS heat insulation materials in Saryarka special economic zone which is located in Karaganda region.
According to the investment plan TechnoNICOL will invest 2 bln rubles in Stone wool material production facility with a capacity of 80 tons per year and 550 mln rubles in XPS production facility with a capacity of 300 thousand cubic meters per year. The project will be implemented in 2014-2016. The two new factories will create 285 new jobs. They will be equipped with modern production lines of leading European brands.
The government of Karaganda region gave its approval to the investment plan, which was fixed by the Memorandum the parties signed after the meeting.
“This investment project implementation will not only increase tax flow and create new jobs but also will increase energy effectiveness of Kazakhstan’s construction industry by supplying it with modern hi-quality insulation materials” – commented Nurmukhambet Abdibekov, the head of Karaganda region.
“Building of new factories will allow us to increase exports to the rapidly developing Asian markets. And Kazakh consumers will benefit from construction materials’ increased availability and easier logistics” – remarked Sergey Kolesnikov, President of TechnoNICOL.