On the eve of the visit of the Head of State Kassym-Jomart Tokayev, a meeting was held between the Chairman of the Board of JSC “Samruk-Kazyna” Nurlan Zhakupov and the shareholder of the German company Medal Holding GmbH Andreas Schneider.

As a result of the meeting, a Memorandum on strategic cooperation between the parties was signed on the project “Construction of a factory for the production of glass containers in the Kyzylorda region”. The document confirmed the intention of the parties to create a mutually beneficial partnership between Samruk-Kazyna Invest LLP and Medal Holding GmbH for the implementation of the project.

The preliminary cost of the project at the moment is about 50 million US dollars. The project is aimed at import substitution and will increase the level of self-sufficiency of the country in glass products by 25%.

The project is planned to be implemented on the territory of the Industrial zone “Ondiris” in Kyzylorda, which will give impetus to the development of the region and create up to 400 jobs.

The technological partner will be HORN manufacturing and engineering company, one of the leading German equipment manufacturers.

The memorandum provides for joint development of the project and provides for coordination of efforts to launch it. Within the framework of the signed document, technical experts of Medal Holding GmbH intend to share their experience in implementing industrial projects.