Japanese manufacturer of air and gas compressors ITO Ltd plans to initiate production operations in Kazakhstan, QazMonitor reports citing the press service of the Atyrau region administration.
A delegation led by Hayashi Sakura, the manager of the foreign economic activity department of ITO Ltd, met with Marat Murziev, the Deputy Akim (Head) of the Atyrau region, to discuss the company's intentions to introduce ITO products to the Kazakh market.
During the meeting, Hayashi Sakura emphasized Japan's abundance of technologies and expressed the company's commitment to expanding its production in Kazakhstan. Despite being a relatively small company, ITO aims to test its technology in the Kazakh market, showcasing a range of products. Initially specializing in regulators for liquefied gas, the company later ventured into the natural gas market, focusing on the production of pressure regulators, valves, vaporizers, cylinders for natural gas, and the design and construction of LPG supply facilities. Hayashi Sakura highlighted that ITO's sales volume in Japan reached $120 million in 2020.
In response to ITO's proposal, the Deputy Head of the region expressed keen interest in the project and affirmed the readiness to support investment initiatives contributing to the region's development. He underscored the potential for establishing a company dedicated to producing ITO's products within the special economic zone of Atyrau.
From January to December 2023, the trade turnover between the Atyrau region and Japan totaled $28.7 million, with exports amounting to $14.1 thousand and imports from Japan reaching $28.7 million.