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Kazakh Samruk-Kazyna to invest up to $237M in new industries

Kazakhstan Materials 23 September 2016 20:48 (UTC +04:00)

Baku, Azerbaijan, Sept. 23

By Elena Kosolapova – Trend:

Kazakhstan’s national wealth fund Samruk-Kazyna plans to transform from an operational holding into an active investor and to invest 50-80 billion tenges ($148-237 million) annually in the development of new industries from 2016 to 2020, the fund said Sept. 23.

“This will create 9,000 jobs during construction period and 8,000 during operation period,” the fund said.

Currently, investment portfolio of the fund’s companies includes about 100 projects worth over $108 billion. These projects will help create 80,000 jobs during construction and about 40,000 jobs during operation, the fund said.

Samruk-Kazyna’s group of companies implements projects both in traditional sectors and in emerging sectors – petrochemistry, gas chemistry, agricultural chemistry and mining sector.

Samruk-Kazyna brings together almost all of Kazakh state-owned assets and manages these assets on behalf of the government. The national oil company KazMunaiGas, the railway operator Kazakhstan Temir Zholy, Kazakhstan Electricity Grid Operating Company (KEGOC), telecom operator Kazakhtelecom, and the national atomic company Kazatomprom are among these assets.

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