KAZAKH INVEST and South Korean company Star Boiler signed a memorandum on the implementation of an investment project
The project involves construction of a plant for production of water heaters and industrial equipment in Almaty. The total investment value is estimated at $ 20 million.
According to the investors, the plant capacity will be up to 6 thousand water heaters, heat exchangers, furnaces, metal containers, tanks and other related industrial equipment annually. The project will create up to 300 new permanent jobs.
“KAZAKH INVEST representative office had a direct participation in attracting the investors to Almaty. In turn, KAZAKH INVEST, with the support of local executive bodies, will provide further assistance to the investors at all stages of the project”, - said Aibek Tursingaliyev, Managing Director of KAZAKH INVEST.
Star Boiler was founded in Korea in 1988. To date, the company has factories in China (Yangzhou Sida Boiler Co., Ltd. and Zhoukousda Boiler Co., Ltd) and Vietnam (Vietnam Sida Boiler Co., Ltd). The company independently develops and manufactures new technologies and products, such as waste heat boilers, condensing boilers and vacuum boilers, electric boilers, and others. Besides the markets of Korea, China and Vietnam, Star Boiler caters to the markets of North America, the Middle East, East Asia and Oceania.