During a working visit to Germany, the CEO of Samruk-Kazyna JSC Nurlan Zhakupov met with Andreas Schneider, a shareholder of a German company Medal Holding GmbH, reports QazMonitor citing the press service of the fund.
Following the discussions, the two parties signed a memorandum on strategic cooperation, with a primary focus on the project titled "Construction of a Glass Container Manufacturing Plant in the Kyzylorda region."
"The document solidifies the commitment of both parties to establish a mutually beneficial partnership between Samruk-Kazyna Invest LLP and Medal Holding GmbH. The primary goal of this project is to bolster import substitution, ultimately increasing the country's self-sufficiency in glass production by 25%," the company stated.
Medal Group specializes in consulting, engineering, and equipment supply for the construction industry.
Earlier it was reported that Vodar plans to build a plant for the production of irrigation equipment in the Zhambyl region. Vodar representative Zhou Chuanguo noted that the irrigation equipment facility is slated to be built within the ChemPark Taraz Free Economic Zone (FEZ).