Baku, Azerbaijan, Nov. 2
By Ali Mustafayev – Trend:
Kazakhstan and China will create a joint fund with a total capital of $300 million, to finance projects in Kazakhstan, the press service of JSC Kazyna Capital Management (KCM).
“Kazyna Capital Management has experience of joint activities with Chinese partners within the framework of the Citic Kazyna Investment Fund I. The fund has already invested $100 million in 5 infrastructure projects in the fields of electric power and railway construction. Currently, we plan to create a $300 million fund, and it will be a new step made by KCM for the development of the private equity market,” said the Chairman of the KCM Executive Board Askar Dostiyarov, at the meeting with Chinese investors in Beijing.
He added that the creation of the fund demonstrates the growing investment attractiveness of Kazakhstan for the Chinese state holdings and private companies in Hong Kong.
“This means the emergence of additional sources of financing for the Kazakh domestic enterprises,” said Dostiyarov.
Kazyna Capital Management JSC is a fund of private equity established in Kazakhstan in 2007. The company aims to promote sustainable development of the national economy. KCM provides capital to the companies engaged in various sectors of the economy and encourages the further growth and increase of competitiveness between the local companies.