ASTANA (TCA) — With the assistance of Kazakh Invest National Company for Investment Support and Promotion, negotiations on the acquisition of the local instant noodles production plant Lotus in the Turkestan region of Kazakhstan were successfully concluded with Singapore’s transnational corporation CG Corp Global, Kazakh Invest said on September 7.
The group of companies CG Corp Global includes 120 companies and 76 brands, which operate in food industry, hotel business, telecommunications, electronics, and other spheres.
Kazakh Invest national company organized a visit of the group’s Chairman and the main founder of the company, Binoda Chaudhary, to the Kazygurt district. It is planned to increase production capacity and introduce international quality standards at the Lotus plant there. In addition, a food production line will be launched on the territory of the Kazakh company.
In Astana, at a meeting with Saparbek Tuyakbaev, Chairman of the Board of Kazakh Invest, the representative of CG Corp Global, Brizh Lodha, noted that currently there are 22 people working at the operational production; after the acquisition transaction, the number of the employees will be increased to 150 people.
“We produce quality noodles according to the world standards, we annually produce 2 billion pieces of products. In Central Asia, Kazakhstan is the most profitable place, here there is the main raw material — this is quality flour. And we think it will be very profitable to produce here and export from Kazakhstan to Russia and the countries of Central Asia,” Brizh Lodha emphasized after the meeting.
The estimated cost of the project is 15 million US dollars. The products will be manufactured under the Wai-Wai noodles brand.