ASTANA – Kazakhstan is set to establish its first modern aluminum wheel manufacturing plant after signing a trilateral memorandum with U.S.-based Open Element and South Korea’s Hands Corporation on Feb. 4.
Photo credit: primeminister.kz
Kazakh First Deputy Prime Minister Roman Sklyar met with Open Element CEO Mustapha Akkari and Hands Corporation Chairman Seung-Hyun Chang to discuss investment cooperation and the launch of a joint venture for aluminum wheel production in Kazakhstan, reported the Prime Minister’s press service.
The project includes the construction of a high-tech manufacturing facility, with Kazakhstan’s Astana Motors participating alongside its international partners. The plant will become the country’s first aluminum wheel production facility with a full technological cycle, incorporating advanced engineering solutions and modern manufacturing technologies.
The initiative is expected to deepen localization in the automotive sector, reduce reliance on imports, stimulate related industries, and strengthen Kazakhstan’s industrial base. Foreign partners noted that Kazakhstan’s steady growth in automotive production was a key factor in selecting the country as the project location.
The project aligns with Kazakhstan’s long-term strategy to become a major manufacturer and regional supplier of automotive components.
