Belarus' Atlant to build US$60-70m refrigerator plant in Kazakhstan

Belarus' ZAO Atlant and Kazakhstan's OAO National Company SPK Saryarka plans to start building a US$60-70 million refrigerator plant in Astana in 2010, Prime-Tass reported.

Saryarka said in a statement on Monday the plant will cover 16 hectares in Astana's industrial park.

ZAO Atlant and SPK Saryarka on 10 June signed the agreement to build the plant in Astana. The document was signed by SPK Saryarka Chairman of the Board Berik Kmaliyev and ZAO Atlant General Director Viktor Shumilo.

The joint venture will cover around 50% of the Kazakh refrigerator market and export its products to Russia, Kyrgyzstan and Uzbekistan.

Some 800,000 refrigerators were sold in Kazakhstan in 2007, 500,000 units in 2008 and 400,000 units in the first half of 2009.

ZAO Atlant sells around 20,000 refrigerators in Kazakhstan annually.

As earlier reported, the Belarus firm was also considering launching of the plant in Uzbekistan.



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