German investors plan to invest in Kazakhstan's project for artificial insemination of cattle

The Ambassador of the Republic of Kazakhstan to Germany Dauren Karipov met with the Managing Director of Kossen Livestock GmbH Ansgar Kossen to discuss the development of bilateral cooperation.

During the meeting, the parties discussed the prospects for the company's participation in implementation of a joint project on artificial insemination of cattle in Tobyl, Kostanay region. The project investment value amounts to 866 million tenge. It is planned to produce 360 ​​thousand of frozen doses of cattle seeds annually. The implementation of the project will create about 60 permanent jobs.

Kazakhstan Bull Genetics is a local partner for the project from the Kazakh side. The project is supported by the regional office of KAZAKH INVEST in Kostanay region. To date, a memorandum of cooperation has been signed and a land plot has been allocated for the project within the framework of joint work with the Akimat of Kostanay region. It is expected that the engineering and communication infrastructure will be established as well as an investment contract will be concluded in the near future. 

The head of the diplomatic mission stressed that many years of experience and high production standards of German companies open up wide opportunities for Kazakhstan to enter foreign markets and promote domestic meat products.

Noting that the favorable investment climate of the Republic of Kazakhstan comprises modern legislative framework and partnership between the state and foreign businesses, D. Karipov informed about the new measures of the Government of the Republic of Kazakhstan to modernize the economy and attract foreign investment.

During the meeting, the representative of KAZAKH INVEST A. Tumysheva presented the measures of state support for investment projects in agribusiness.

Kossen Livestock GmbH specializes in commercial and breeding livestock for export to Kazakhstan, Russia, Uzbekistan, Turkmenistan, Iran, Turkey and the United Arab Emirates.

Source: invest.gov.kz

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