Samruk-Kazyna to spend $101 billion on investment projects

Samruk-Kazyna will implement investment projects totally worth $101 billion, Tengrinews.kz reports citing chairman of Samruk-Kazyna National Welfare Fund Umirzak Shukeyev. "The fund will be taking part in implementation of the industrial program in 2013. The investment program of the fund includes 157 projects totally worth $101 billion. Of them 74 investment projects worth $54 billion are being implemented already. 4 major projects that will create 5 thousand jobs will be launched in 2013 as part of the Industrialization Map," Umirzak Shukeyev said. According to him, the projects include reconstruction of Kazakhstan's sulfate plant with a capacity of 180 thousand tons, construction of 3 transformer substations in Almaty, launch of a pavement bitumen production plant, reconstruction and modernization of Atyrau oil refinery that will involve launching of benzene and paraxylene production units. "Plants for production of engineering and telecommunication equipment are being constructed at the investors own cost. The projects include production of electric switch mechanisms, electric-optical devices. There is also a package of major projects worth $2.6 billion: production of polypropylene, sodium cyanide, polymer goods, glass plant, radio-locating systems, etc.," Umirzak Shukeyev said. According to the chairman, the fund is preparing a master plan with a vision on development of alternative energy and renewable energy sources. "Provision of the EXPO with alternative energy sources is a separate important issue. We are starting the project of construction of Yereymentau Wind Power Station. A solar station will be built near Kapshagay jointly with Kenbulak power station. I think that we will be able to supply enough energy to EXPO-2017 from alternative energy sources. Besides, we are in talks about construction of the solar station and a wind farm near Astana," Shukeyev added. By Baubek Konyrov