OREANDA-NEWS. June 18, 2014. Memorandum of co-production of buses and commercial vehicles of IVECO in Kazakhstan has been signed between the Ministry of Industry and New Technologies, Iveco S.p.A. and Allur Group.

The document was inked by the Deputy Prime Minister - Minister of Industry and New Technologies Asset Issekeshev, President CNH Industrial in Russia and CIS Roberto Valfre and president of Allur Group Andrey Lavrentiyev.

Joint work on the basis of the agreement will allow the parties to raise competitiveness in the field of commercial vehicles and create a foundation for the development of commercial relations between the two countries, the press service of Allur Group informs.

Joint cooperation will allow Kostanay diesel plant to produce light commercial vehicles "Daily" and "PowerDaily" equipped with diesel and electric motors, medium-and heavy-duty trucks equipped with diesel engines, as well as urban low floor buses with gas engines.

Kostanay plant expects to achieve production capacity of at least 25,000 units of vehicles per year, and the level of localization will be not less than 30% by Q1 2016.

In the future, commercial machinery produced at the sites of the joint venture will be marketed in the CU.