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SAMARA, November 10 (Itar-Tass) —— A car plant with the volume of production of 120,000 Lada cars a year will be built in Kazakhstan. As the AVTOVAZ press centre reported, a memorandum on strategic partnership to create full cycle car production was concluded in Ust-Kamenogorsk (Kazakhstan) on Thursday. The document was signed by AVTOVAZ president Igor Komarov, head of the East-Kazakhstan Region Berdybek Saparbayev, chairman of the council of directors of the group of companies BIPEK AVTO Anatoly Balushkin and president of the company AZIA AVTO Yerzhan Mandiyev.
It is planned that the construction of the plant will begin in the East-Kazakhstan Region in 2012. The launch of the first stage of production (90,000 cars a year) is planned in 2015 and the second stage (another 30,000 cars a year) - - in 2017. The volume of investments is about 500 million dollars.
The cars made in Kazakhstan will be sold in the markets of Central Asia, the Trans-Caucasus, the Siberian and Far Eastern Districts of Russia.