Kazakhstan and India have formalized an agreement to assemble Sonalika/Solis tractors. This was reported by Qazaqyia.kz citing Sputnik Kazakhstan.
The contract was signed at the Kazakhstan-India Trade and Investment Business Forum in Chennai. The main goal is to assemble Sonalika/Solis tractors in Kazakhstan.
Initially, the necessary equipment will be supplied from India. Subsequently, gradual localization of production is planned.
"This project will cover the supply, assembly, localization of production, distribution and after-sales service of tractors and agricultural machinery. The value of the agreement is $120 million US dollars," the official statement said.
Under another agreement, the parties will consider opportunities for jointly identifying and implementing mutually beneficial projects in Kazakhstan. In addition, the forum prioritized the development of interregional ties.
Representatives of Akmola, Atyrau, Mangystau and Turkistan regions, as well as the city of Shymkent, presented the export and investment potential of their regions and proposed projects ready for joint work with Indian companies.
It should be noted that Sonalika/Solis tractors are currently produced by the Indian company International Tractors Limited.