Kazakhstanїs GDP Growth to Total 7% in 2008-2010: Renaissance Capital

Business Materials 7 September 2008 15:12 (UTC +04:00)

Kazakhstan, Astana, 7 September / Trend corr. E.Khankishiyeva, A.Badalova/ їReal growth of Kazakhstanїs GDP will comprise 7% in 2008-2010,ї Adel Kambar, Chairman of Board of the Renaissance Capital investment group in CA and Middle East, said at the third Eurasian energy forum Global Challenges ї Energy Solutions on 4 September.

Kazakhstanїs nominal GDP will exceed $200bln by 2012.

According to Kambar, Kazakhstanїs GDP real growth comprised average 10.1% in recent six years. Most part of the growth was enabled by 12% average annual oil and gas production growth rate.

According to the report, Kashagan field requires extra investments in the sum of over $128bln. In 2009-2015, offshore exploration and development in Kazakhstanїs sector of the Caspian Sea will require more than $12bln extra investments.

Exploration and development of onshore fields in 2008ї2015 will require extra investments in the sum of over $3bln. Total investing in countryїs transport infrastructure is expected to exceed $25bln by 2030.

Kazakhstan will require $200bln of investments for its growth by 2020, which is almost 200% of countryїs nominal 2007 GDP.

Exploration and development of oil and gas fields requires $143bln, establishment of petrochemical industry and upgrading of oil processing - $20bln.    

Upgrading of oil refineries will require about $2bln in 2009-2015.

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