Alageum Electric, a leading electromechanical engineering company from Kazakhstan, signed an agreement with Hai'an on July 21 for a transformer and component project.

With a total investment of $30 million, the project will focus on the research, development, and production of dry-type transformers, oil-immersed transformers, and related components. Annual sales are expected to reach no less than 200 million yuan ($29.43 million).

The company said Hai'an was chosen for its strong industrial base — home to over 100 transformer-related enterprises, with a complete supply chain and abundant talent. Through this partnership, Alageum Electric plans to facilitate mutual investment between Hai'an and Kazakhstan, thereby enhancing bilateral economic cooperation.

Hai'an is a county-level city in Nantong, Jiangsu province. [Photo/WeChat account: hafbwx]