Kazakh Engineering inks new deal with Eurocopter

March 11. Universal Newswires

Kazakh Engineering inks new deal with EurocopterKazakh Engineering has signed a new deal with French-German-Spanish firm Eurocopter to produce military helicopters, the state-owned firm’s chairman said on Monday.

“In early March this year, we signed a new agreement with the company Eurocopter to expand our business,” Chairman Bolat Smagulov told Kazakh state media in a press conference.

“We will work to have the military version of helicopters, such as the 635 and 645 models. This is a new stage in the development of our industry.”

Earlier this year, the two companies agreed to establish a production plant near the Kazakh capital Astana that will also provide training services for both pilots and engineers.

The newest contract marks a new stage in the development of the company, Smagulov said.

“Our task is to enter the export market soon, to become a multinational,” he said. “The company today has all the necessary resources, we have obtained a credit rating from the Moody’s agency at B2 and we can already borrow funds to finance the projects that we organize.”

Kazakh Engineering is a subsidiary of sovereign wealth fund Samruk-Kazyna.