Kazakhstan intending to inject over $7 billion to its power generation industry

Kazakhstan intends to inject over $7 billion to modernize its power generation industry, Kazakhstan’s Minister of Industry and Trade Asset Issekeshev said when speaking at the 24th plenary session of the Foreign Investors’ Council (FIC) opened today in Astana, Novosti Kazakhstan reports. According to him, first investment agreements in this realm have already been signed: there are 63 of them. “They are being implemented (…) this year alone $900 million is to be injected, with 800 megawatt of new power generation capacities being put in place”, he said. “Before 2015, a total of $7 billion will be invested into this realm, with new generation capabilities standing at 3700 megawatt”, Issekeshev informed. The 24th plenary session of the Foreign Investors’ Council (FIC) has been opened today at Nazarbayev University in Astana. The session focused on modernization of Kazakhstan’s enterprises was opened by President Nazarbayev. The FIC is an advisory body established to promote direct dialogue between the Government of Kazakhstan and foreign investors to efficiently address issues related to investment activities and to improve the business climate of Kazakhstan. FIC comprises 29 foreign companies and international organizations. Almaty hosted the 23th sitting on qualified labor resources in 2010.