President participates in Kazakhstani plant opening in XUAR

The president of RK Nursultan Nazarbayev participated in the opening of "Raimbek food (Xingjian) Co. Ltd" natural juice production plant on May 19 in Urumqi, - KZ-today correspondent reports.

The president believes that the plant opening is a worthy contribution in the relations between Kazakhstan and China. The government of PRC "has treated this project favourably and it may be considered as the first sign" of such co-operation, N. Nazarbayev said.

Raimbek Batalov, "Raimbek Group" president, chairman of the Forum of Kazakhstani Entrepreneurs, also believes that the plant commissioning "is a clear confirmation of developing co-operation and mutually beneficial relations between the two countries." In his view, the plant commodities will become "the face" of Kazakhstani economy in the region.

The realisation of this project for a total cost of $20 million was assisted by an agreement with the Chinese side on maximum benefits for the venture establishment. The plant has been constructed by a "Raimbek Group" structural unit.

Xingjian commercial and industrial company "Raimbek food (Xingjian) Co. Ltd" has become the first Kazakhstani venture with a hundred per cent private capital in PRC, registered in Urumqi on the territory of Urumqi technical and economic development zone.

The venture is located on a 2.5 hectare area, the total roofed production area is 13 thousand square metres. The project is realised in two stages. At the first stage two production lines will be launched with total output equalling 52 million litres of juice per annum. At the second stage - in May 2005 new lines will be launched and the plant output will reach 104 million litres of juice per annum.