AvtoVAZ JSC and Kazakhstan's Allur Group of Companies have signed a cooperation agreement that theey hope will lead to the resumption of local production of Lada cars in the country.

The signing ceremony was held in the presence of the Prime Minister of the Republic of Kazakhstan Askar Mamin.

As part of the Agreement, the new partner of AvtoVAZ intends to produce a wide range of Lada cars in Kostanay in the volumes 'that will be necessary for the local market, in full compliance with the regulatory framework in force in Kazakhstan'. Information about the model range and production volumes will be announced additionally, as supplementary agreements are finalized.

''I am sincerely glad to see the resumption of local production of Lada in Kazakhstan. In the shortest possible time, thanks to the professional approach of our partners, we were able to prepare and sign a cooperation agreement, as well as launch the first model – the Niva Travel SUV. In the coming months, the Kostanay plant will start producing other Lada models. Kazakhstan is a key export market for AvtoVAZ, and together with our new partner, we intend to further strengthen the presence of our brand here,'' said Yves Caracatzanis, President of AvtoVAZ JSC.

At the end of the signing ceremony, Mr. Caracatzanis took part in a meeting with Prime Minister of Kazakhstan Askar Mamin, where they discussed the prospects for further deepening the industrial cooperation between AvtoVAZ and SaryarkaAvtoProm through the organization of CKD production, including welding and painting; transformation of the Lada dealer network in Kazakhstan to ensure the continuity of providing services to customers.