Samruk Kazyna to launch $26 bln worth of projects within 3 years

Kazakhstan's Samruk-Kazyna Wealth Fund is planning to commission dozens of projects totally worth $26 billion within the next 3 years, Tengrinews reports citing the Fund's senior director for business development and a member of the Management Board Berik Beisengaliyev.

Samruk-Kazyna is a state-run holding in Kazakhstan that owns, either in whole or in part, many important companies in the country, including the national rail and postal service, the state oil and gas company KazMunayGas, the state uranium company Kazatomprom, Air Astana, and numerous financial groups. Samruk-Kazyna controls $78 billion in assets, or nearly 56% of the GDP.

"In 2014 alone, we are planning to launch 16 new large projects totally worth $3 billion. During the implementation phase the projects created over 10,000 jobs, and after they are commissioned, these 16 projects will offer 9,000 jobs. In 2015-2016 we are planning to implement 40 investment projects totally worth $23 billion," Beisengaliyev said.

As an example of the large projects to be launched this year Beisengaliyev mentioned 45MW Yereimentau Wind Power Plant in Akmola Oblast in central Kazakhstan.

Kazakhstan's Samruk-Kazyna Wealth Fund is planning to commission dozens of projects totally worth $26 billion within the next 3 years, Tengrinews reports citing the Fund's senior director for business development and a member of the Management Board Berik Beisengaliyev.

Samruk-Kazyna is a state-run holding in Kazakhstan that owns, either in whole or in part, many important companies in the country, including the national rail and postal service, the state oil and gas company KazMunayGas, the state uranium company Kazatomprom, Air Astana, and numerous financial groups. Samruk-Kazyna controls $78 billion in assets, or nearly 56% of the GDP.

"In 2014 alone, we are planning to launch 16 new large projects totally worth $3 billion. During the implementation phase the projects created over 10,000 jobs, and after they are commissioned, these 16 projects will offer 9,000 jobs. In 2015-2016 we are planning to implement 40 investment projects totally worth $23 billion," Beisengaliyev said.

As an example of the large projects to be launched this year Beisengaliyev mentioned 45MW Yereimentau Wind Power Plant in Akmola Oblast in central Kazakhstan.

The green energy project designed to supply power to Astana is part of Kazakhstan's praparations for the EXPO-2017 to be held in Astana.

Beisengaliyev added that Samruk-Kazyna investment portfolio included 163 projects totally worth $146 billion.

Reporting by Altynai Zhumzhumina, writing by Dinara Urazova, editing by Tatyana Kuzmina

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