OREANDA-NEWS. October 15, 2014. More than EUR 1 billion has been invested in the engineering industry for five years. It has been announced by Minister of Investment and Development Asset Issekeshev during the II Forum of Mechanical Engineers Kazakhstan.

"For five years, the volume of engineering production has increased almost 3 times. But there is still a lot of work. Attraction of investments in fixed assets of the industry has increased. If investment was about 10 billion tenge in 2008, it was 48 billion tenge last year. It is three and a half times more than in the year of investment, than for 4 years. A range of products is expanded. If in 2008, engineering industry was represented by three main branches, in 2012 there were 6 major segments. Production of new products has been mastered," A. Issekeshev said.

According to him, 70 projects were introduced during four years. More than € 1 billion has been invested in the industry. There has not been this amount of private investment in the history of Kazakhstan before. "It is important that the investment would come both as financial, and together with technologies and such companies in Kazakhstan as "GeneralElectric", "Alstom", "Toyota", "Siemens" and many others," he added.

He stressed that as a result of work carried out, there are many new subindustries. "Of particular note in the first five-year period - are auto industry and railway engineering. The share of the automotive industry in 2013, compared with 2008 increased by four times. The share of machinery accounted for 18 per cent, before it was 4 percent. Production has increased by 12 times in comparison with 2008. And car manufacturers received support in form of loans and leases from the state for more than 10 billion tenge," Minister of Investment and Development concluded.