OREANDA-NEWS. October 06, 2014. More than EUR 1 billion has been invested in engineering industry during the first five-year plan of NP FIID.

It has been announced by Vice Minister of Investment and Development Albert Rau today during a briefing at the II Forum of Mechanical Engineers of Kazakhstan, which will be held in Astana.

"The engineering industry showed the better dynamics as a result of the five-year plan. More than EUR 1 billion has been invested in 70 projects during the first five-year plan. This is due to modernization of existing enterprises and construction of new ones," A. Rau said.

He recalled the tasks for the second five-year plan of NP FIID. "The second five-year plan has several goals. Firstly, completion of those projects, the foundations of which were laid in the first five-year plan. The most glaring example is a full-cycle plant with "AvtoVAZ" and "Renault-Nissan" in Ust-Kamenogorsk. Secondly, the designed capacity of the plants that have been introduced, including production of components, as the level of economic development is always characterized by high branches, but most importantly, so that there would be a multiplier effect. Thirdly, export growth," Vice Minister of Investment and Development concluded.

According to him, II Mechanical Engineers Forum will be devoted to a serious discussion about the goals and objectives of the second five-year plan of NP FIID with companies of the industry, which has about 300 organizations.