Additional money will be allocated to modernize the Shymkent Oil Refinery on southern Kazakhstan. This will help increase the production capacity of the refinery and make it more environmentally friendly.
Sberbank of Russia will provide $3.6 billion to finance projects of Kazakhstan's national railway company Kazakhstan Temir Zholy (KTZ).
Besides, Sberbank Kazakhstan has signed an agreement with IFC, with the latter providing a loan to finance S&Mbs.
Mr. Gref earlier expressed concerns that Kazakhstan is taking steps to restrict operations of foreign banks in Kazakhstan, including those of Sberbank.
Due to a Samruk-Kazyna’s decision the bank’s Kazakhstan subsiary may lose $800 million deposited by legal entities.
British Max Petroleum that has assets in Kazakhstan received the first tranche of a loan from SB Sberbank JSC in the amount of $60 mln.
Sberbank’s Kazakhstan subsidiary is quite large and we no longer need acquisitions: Sberbank's CEO.
We are planning to become one of the key banks in Kazakhstan in the nearest 5 years: Sberbank chairman.
We could have significantly increased our investments to Kazakhstan: German Gref.
The signing ceremony was held in the Government’s House in Astana.
Mr. Gref admitted 2012 “will be rather complicated given the indicators of the latest months”.
First of all, the decision has to do with the vision and strategy of Sberbank’s operations in the Kazakh market: Bank’s Chairman German Gref.
We do not comment on clients’ transactions and on our partners. This has nothing to do with the Bank’s transparency: German Gref.
According to him, “there are some political trends within the CIS that hamper economic integration (…) Unfortunately, disintegration is on the rise”.
The estimated figure has been raised from $20.5 forecast made in May.