SIKA COMMISSIONS TWO NEW PLANTS IN KAZAKHSTAN|
Sika AG /
SIKA COMMISSIONS TWO NEW PLANTS IN KAZAKHSTAN
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Sika is expanding its presence in Kazakhstan and strengthening its position in
two of the country's growth regions. To reinforce existing production operations
in Almaty in the southeast of the country, Sika is simultaneously commissioning
two further concrete admixture production plants, one in the capital Astana and
the other in Atyrau in the west.
The capital of the country, Astana, and Kazakhstan's western region are
attractive markets: In the past three years alone, there have been inflows of
approximately USD 17 billion into Astana's dynamic construction market. Major
projects such as the new Light Rail Transport System of Astana (LRT) and the Abu
Dhabi Plaza structure, which will be the highest building in central Asia, are
fueling substantial demand for concrete. This applies to the oil and gas
industry in the region around Atyrau too. One example is the Prorva access
channel, which will connect one of the biggest oil fields in the region - the
Tengiz oil field - with the Caspian Sea.
Ivo Schädler, EMEA Regional Manager: "With Astana and Atyrau, we are tapping
into two promising regional markets. This will accelerate our growth in
Kazakhstan significantly. At the same time, the new production plants will
reinforce our competitive position to a substantial degree, since we will be
able to produce locally, in proximity to our customers and with an optimized
DIVERSIFICATION OF THE ECONOMY DRIVING CONSTRUCTION DEMAND
Kazakhstan's economy is witnessing a clear uptrend, which is being driven by the
rising oil price, increasing Chinese investment, and the state capital
expenditure program aimed at greater diversification for the country and reduced
dependency on oil. According to estimates, the construction industry is expected
to grow by 5.9% in 2018, with annual growth averaging 4.9% until 2022.
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SIKA CORPORATE PROFILE
Sika is a specialty chemicals company with a leading position in the development
and production of systems and products for bonding, sealing, damping,
reinforcing, and protecting in the building sector and motor vehicle industry.
Sika has subsidiaries in 101 countries around the world and manufactures in over
200 factories. Its more than 18,000 employees generated annual sales of CHF
6.25 billion in 2017.
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Source: Sika AG via GlobeNewswire
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