BAKU, Azerbaijan, Sept. 10
By Nargiz Sadikhova - Trend:
Kazakhstan’s Samruk Kazyna Sovereign Wealth Fund will is planning to attract 1.1 trillion tenge ($2.5 billion) worth of foreign direct investments in 2H2020, Trend reports with reference to Samruk Kazyna.
The overall volume of foreign direct investments (FDI) attracted in 2020 is planned to amount to 2.3 trillion tenge ($5.4 billion) across 23 investment projects with participation of companies operating in oil and gas, chemical, energy and metallurgy sectors.
In the context of quarantine introduction and disruption of global supplies, timely measures taken allowed the Fund to contain a significant decrease in FDI. Fund has attracted 2.8 trillion tenge ($6.6 billion), or 30.3 percent of all FDI in Kazakhstan in 2019.
At the same time, a number of industries where Fund's group of companies participates demonstrate a steady interest of foreign investors.
Such projects in the energy sector include the construction of a 50MW wind farm in Ereymentau city and a 60 MW wind farm in the Shelek corridor the total FDI of which amounted to 30 billion tenge ($70.8 million).
Talking the petrochemical industry the construction of a gas chemical complex of KPI company may be named. A total of 271 billion tenge ($693.8 million) worth of FDI were attracted to the project.
In turn, the oil and gas field is defined by a project for an increase in gas storage capacity at the Bozoi UGS facility with the attraction of investments in the amount of 7.2 billion tenge ($16.9 million).
Sovereign Wealth Fund Samruk-Kazyna Joint Stock Company is the Fund, where the sole shareholder is the Government of the Republic of Kazakhstan.
Samruk-Kazyna JSC Group includes enterprises operating in several industries – oil, transport and logistics, chemical and nuclear, mining and smelting, energy, mechanical engineering, and real estate.
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