ASTANA, Kazakhstan, January 8. Kazakhstan's Samruk-Kazyna JSC (Sovereign Wealth Fund) will implement 35 projects worth 21 trillion tenge (about $46.4 billion) in the next five years, Trend reports.
This is reflected in the Samruk-Kazyna's Business Plan, which was approved at the end of December by the Board of Directors. At the same time, the annual budget was approved.
These are projects in the field of petrochemicals, projects to commission new generating capacities, construction of new railway lines, etc.
As noted in the plan, the implementation of these projects has a multiplier effect on economic development and will create the foundation for the further development of the country.
In addition, in the planned period, improvement and stable growth of the Fund’s strategic indicators are predicted. It is expected that in 2024, the consolidated revenue and assets of the Fund will amount to more than 17 trillion tenge (about $37.5 billion) and 38.7 trillion tenge (about $85.5 billion), respectively.
In addition, the Fund will continue to implement the privatization program, which will help reduce the state's share in the country's economy.
Meanwhile, Samruk-Kazyna JSC is a Kazakh investment holding created in 2008 to improve the national welfare of Kazakhstan and carry out work to modernize its economy.
The sole shareholder is the government of Kazakhstan.