Investments in Kazakhstan's Aktobe region grow by nearly 11%

Business Materials 15 February 2019 17:18 (UTC +04:00)

Baku, Azerbaijan, Feb. 15

By Rashid Shirinov – Trend:

As much as 516.1 billion tenge worth of investments was injected into the economy of Kazakhstan’s Aktobe region in 2018, Trend reports via the press service of the region’s administration.

During the reporting meeting with the population, Head of the region Berdybek Saparbayev said that investments increased by 78.1 billion tenge or 10.8 percent compared to 2017 and that almost a third of all investments are foreign.

"In line with the instructions of the head of state, active work continues to attract foreign investment in various sectors of the economy. Thanks to the arrival of transnational corporations and other large foreign companies in the region, we have a positive trend," Saparbayev said.

It should be noted that today seven transnational companies work in the Aktobe region: Sinopec Group, CNPC, ERG, Yildirim Group, Russian Copper Company, as well as Eni and General Electric, which are building a wind power plant worth 33 billion tenge in the region.

During the meeting Saparbayev pointed out some major investment projects of the region’s manufacturing industry.

The gas processing complex of Gas Processing Company LLP has become a significant project for the Aktobe region. The enterprise not only makes a significant contribution to the economic development of the region, but also improves the environmental situation by processing associated gas. Investments in the project amounted to 42 billion tenge.

In agriculture, a major project for the construction of a greenhouse complex of Green Capital LLP is being implemented. Until 2021, its total area will be about 22 hectares, and the total amount of private investment will be more than 20 billion tenge.

After the expansion, the greenhouse complex will provide the population with tomatoes, herbs, eggplants and sweet pepper.

Also, such projects as a plant for the production of building materials of Koktas Aktobe JSC worth 7 billion tenge, a plant for the production of ceramic and porcelain tiles of Zerde Ceramics Aktobe LLP worth 9.2 billion tenge and other projects are at the completion stage.

(376.37 KZT = 1 USD on Feb. 15)


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