QIC JSC financed the project on the modernization of foundry production Vostokmashzavod JSC

The implementation of the project provides for the modernization of the plant for the production of large-scale car casting with a production capacity of 36,000 pieces of side frame and 18,000 pieces of girder of the overhead trolley of freight wagons per year.

It is important to note that the project will create an additional 400 new jobs.

The successful implementation of the project will reduce dependence on imports and ensure stable supply to the domestic market, increase the production of freight railcars and the volume of high-tech non-primary production in the Republic of Kazakhstan.

Qazaqstan Investment Corporation, being the driver of private equity infrastructure development in Kazakhstan, successfully implements projects, including within the framework of the Concept of development of the manufacturing industry of the Republic of Kazakhstan for 2023-2029.

Which projects were previously funded under the program can be found here.

Reference:

Qazaqstan Investment Corporation JSC is a fund of direct investment funds established in 2007, whose main mission is to develop the infrastructure of direct investment and venture financing in Kazakhstan in order to promote sustainable economic development of Kazakhstan. It is a subsidiary of Baiterek NMH JSC. See additional information on the website https://qic.kz/ru .

Baiterek Venture Fund is a subsidiary of Qazaqstan Investment Corporation JSC, a captive private equity fund established in 2014, financing large, capital–intensive projects of small and medium-sized businesses.

Vostokmashzavod JSC (East Kazakhstan Machine-Building Plant) is a machine—building plant in the city of Ust-Kamenogorsk. Since 1958, he has been manufacturing machine-building products, foundry products, drilling tools, vacuum equipment, processing equipment, special technological and non-standard equipment.

Today, the main activities of the company are the production of foundry products from steel, manganese, cast iron and non-ferrous casting, as well as the production of various products for the engineering and mining industries. ​