Nokian JV Facility in Kazakhstan Granted Funding Approval

Investment funding for the planned Ordabasy joint venture in Kazakhstan, the product of cooperation between Nokian Tyres and Kazakhstanian multi-industrial company Ordabasy Corporation JSC, gained approval from the Development Bank of Kazakhstan during its sitting on March 28. The Development Bank, formed in 2001, is responsible for providing credit to medium-term and long-term projects in non-primary sectors of the national economy.

Establishment of the Ordabasy facility is anticipated to cost 160 million euros, and will have an annual capacity of four million tyres when complete.