Russia-linked Company to Build Locomotive Plant in Aqmola Region

The Astana-registered Qamqor Lokomotiv company will implement a significant industrial project in the Aqmola region. The firm, whose ultimate beneficiaries are located abroad, will build a plant for assembling locomotives in Atbasar, Orda.kz reports.

The Aqmola Region Akimat announced that it had signed a cooperation agreement with Qamqor Lokomotiv LLP, which envisages the construction of a plant with a capacity of 360 locomotive sections per year. The region's Akim, Marat Akhmetzhanov, noted that Atbasar will become a railway transport hub. The project will be implemented within the framework of Qasym-Jomart Toqayev's instructions.

Qamqor Lokomotiv LLP's Director Altay Zhumatayev has stated that the plant will assemble locomotives with heat and electric traction. Plans also include converting the traction to liquefied gas. The construction site has already been selected, work is expected to begin in 2025, and production will be launched at the end of 2026.

During the period of operation and construction of the project, the enterprise will employ 800 people. The cost of the private investment project is about 47 billion tenge,the Akimat emphasized. 

Qamqor Lokomotiv LLP, which will implement the project, has existed since 2003, and its last reregistration was in 2012. The company is registered in Astana and actively participates in government procurement. On average, the LLP pays 3 billion 239.5 million tenge in taxes to the budget per year. The sole founder (stakeholder) of Qamqor Lokomotiv is LLP Kazakhstan Transport Technologies.

"Kazakhstan Transport Technologies" was registered at the same address but much later (2018). Its founders (stakeholders) are two Russian firms: Moscow-based LLC "Discus" (main activity—investments in securities; director—Nikolai Filippov) and the holding company VTR Holdings Limited, formally registered in Astana.

LLC Vector of Technological Solutions is also within this structure. It is also known as OOO Vector of Technological Solutions and is registered in Moscow with an authorized capital of 10 thousand rubles. This organization controls VTR Holdings Limited. The ultimate beneficiaries of the company that will build the locomotive manufacturing plant in the Aqmola region are, therefore, located in Russia.

In February, reports surfaced that the American company Wabtec had received complete control over the locomotive plant JSC Lokomotiv Kurastyru Zauyty, previously jointly owned with the Russian Transmashholding.

Original Author: Nikita Drobny