KT&G hosted the completion ceremony of its new Kazakhstan factory yesterday, which will be the production hub for its Eurasian market. The ceremony took place at the 52,000㎡ factory grounds in Almaty. The factory will be an export outpost and core production base that meets the demands of recently growing Europe, CIS, and the Eurasian markets, and is expected to produce 4.5 billion cigarettes a year.
The construction of the new factory in Kazakhstan is part of KT&G’s CAPEX investment program announced at the “Future Vision Declaration Ceremony” held in January of 2023. KT&G plans to increase the proportion of global revenue to 50% by 2027 through the expansion of direct global operations and other measures, heightening core business competitiveness.
“With the completion of the new Kazakhstan factory, KT&G has laid the foundation of a Global Manufacturing Network that will tow our global competitiveness,” KT&G CEO Kyung-man Bang said. “KT&G will accept challenges in the future and expand our global direct business to increase profitability as well as corporate value, and share the gains with our stakeholders.”
After the ceremony, KT&G signed a Memorandum of Understanding on the “Green Globe Project” that aims to assist in local reforestation efforts. Through the project, the company plans to assist recovery from the June 2023 Abai wildfire.
