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Finland's Reka Cables plans to create a joint venture to produce cables in Kazakhstan

The Finnish company Reka Cables plans to organize in Kazakhstan a joint venture that will produce hi-tech cables, the National Agency for Exports and Investments "Kaznex Invest" at the Kazakh Ministry of Industry and New Technologies says in a Wednesday press release.

"The company plans to set up production of European standard cables in

Kazakhstan. Such cables have never been manufactured in the republic before.

Reka Cables will create a joint venture that will produce 10-35 kV

polyethylene cables. In support of this project, Kaznex Invest will initiate

amendments to the Kazakh technical standards (GOST) for cable production, which have basically been the same since the Soviet times," the pressrelease says.

Kaznex Invest and Reka Cables sealed a memorandum of cooperation at the Kazakh-Finnish Forum that was held in Astana on Wednesday. Reka Cables inked another memorandum with Kazakhmys on copper rod supply to Finland.

"Kazakhmys produces 60,000 tons of copper rods a year. The first shipment to Finland will make up 10,000 tons," the press release says.

Kaznex Invest was created on April 2, 2010, following the decision made by the Ministry of Industry and New Technologies, on the basis of Kaznex, a corporation for exports development and promotion.

Kaznex Invest develops and promotes non-resource exports and attracts

foreign investors. Kaznex Invest is financed from the republic's budget and renders its services free of charge.

Reka Cables produces medium and high voltage cables, installation, control and power cables for the needs of industry, construction and electricity supply. The company has plants in Finland and Russia, and its key market areas are the Nordic and Baltic countries and Russia. Reka Cables is part of Neo Industrial Group.

Source: Reka Cables