Baku, Azerbaijan, Jan. 23
By Elena Kosolapova - Trend:
The companies as part of Kazakhstan's Sovereign Wealth Fund Samruk-Kazyna joint-stock company, will complete a number of large investment projects in 2015, Financial Officer, Member of the Fund Board Nurlan Rakhmetov told Trend.
"In particular, the Beineu Bozoi Shymkent gas pipeline will be constructed in 2015," he said. "It will supply gas from the west to the south of Kazakhstan. This gas pipeline will solve the problem with gas shortage in the south of the country. At present, the gas is purchased in Turkmenistan and Uzbekistan to provide the southern regions of Kazakhstan. The reason is a lack of gas pipelines that could have delivered gas from the Kazakh fields."
Moreover, an aromatic hydrocarbon complex will be constructed at the Atyrau refinery in 2015.
A mobile drilling rig is to be constructed and a sulfur granulation production base is to be established in the KazMunaiGas national oil and gas company in 2015.
An automated electric traction supervisory control system will be introduced in Kazakhstan Temir Zholy (Kazakhstan Railways) in 2015.
The company Samruk-Energo also plans to build a new substation Turksib in Almaty in 2015.
In total, the group of companies Samruk-Kazyna has about 60 large investment projects on the agenda, according to Rakhmetov. Their total value is about $146 billion, and it includes both already being implemented projects and the prospective ones that are actively being worked out.
He said that the most priority areas for development are mining, petrochemical and chemical industry, power industry and the real estate sector The main investment projects are being implemented in these areas, according to the financial director of the fund.
He said, in particular, the mining company Tau-Ken Samruk intends to import to Kazakhstan new technologies for exploration, production and processing in the mining sector.
The company launched a refinery in 2013 and according to the strategy of the Tau-Ken Samruk, if it develops successfully, there will be a possibility to increase the reserves of copper by 4.5 metric tons, zinc - by 8.6 million metric tons, lead - by 10 million metric tons, and iron - by 3 billion metric tons.
The petrochemical and chemical industries see the realization of the production of basic chemical products, and the fund's companies are provided with the chemical materials and reagents.
For instance, the nuclear company Kazatomprom has great need for sulfuric acid and caustic products. All of this is to be provided by the United Chemical Company. But the UCC's biggest project is the production of polypropylene and butadiene.
In the electricity sector, the Samruk-Kazyna Fund seeks to increase the capacity of the company Samruk-Energo so that it will give 50 percent of the country's electricity. In addition, Samruk-Energo is to become a national operator in coal mining.
Regarding the sphere of real estate, the Real Estate Fund is expected to commission around 1,085,000 square meters of real estate (some 50 percent of residential and 50 percent of commercial real estate) by 2024.
Moreover, Real Estate Fund is expected to engage in the tourism activity. The Kazakh government regards the Real Estate Fund as one of the tools for developing the tourism sphere in the country.
Samruk-Kazyna National Welfare Fund was created in accordance with the decree of the President of Kazakhstan in 2008 to improve the competitiveness and sustainability of the national economy.
It brings together almost all state-owned assets of Kazakhstan and manages these assets on behalf of the government. KazMunaiGas NC JSC, the railway operator - Kazakhstan Temir Zholy JSC, Kazakhstan Electricity Grid Operating Company JSC (KEGOC), communication operator Kazakhtelecom JSC, Kazatomprom JSC National Atomic Company are among these assets.
Edited by CN
Follow the author on Twitter: @E_Kosolapova