Agrts Worth $ 3bn Signed At RK-RF Business Forum

Agrts Worth $ 3bn Signed At RK-RF Business Forum

The agreements are relating to raw materials extraction, development of heavy engineering and innovation.

56 bilateral documents in the amount of $ 3 billion have been signed today, October 4, in the Kazakh-Russian business forum, which was held in Astana in the framework of the XIII Forum of interregional cooperation between Kazakhstan and Russia.

They include the program of trade-economic cooperation between Kazakhstan and the Russian Federation in the years 2017-2020, providing industrial, mining and investment cooperation. To date, the program comprises 60 projects – current and perspective.

Among other documents, we note a number of memoranda and agreements.

It is agreement between Kazakhstan Temir Zholy JSC and COALCO Development on acquiring a 49% share in the joint venture Central Sukhoi Port in the Moscow region,

MoU between Kazakhstan Investment and Development Ministry, Zhambyl region’s administration and EuroChim JSC on building a mineral fertilizers production and development of phosphorite fields of the Karatau Basin in Zhambyl region in two stages. Stage 1: construction of the mining complex” (2013-2015), stage 2: construction of a chemical complex” (2016-2019).

Memorandum between the RK Ministry of Energy, Kazatomprom NAC and Rosatom State Corporation is aimed to increase uranium production to 3,200 tons at the JV Karatau in South Kazakhstan region.

Kazatomprom NAC also signed an agreement on payment compensation with Uranium One Inc. for increasing uranium production at Karatau LLP by 1 200 tonnes per year, as well as a contract with Uranium Enrichment Center JSC on production work.

Cooperation agreement was signed between ACF PIT, Administration of Astana and Foundation for Development of the Centre for commercialization of new technologies, involving the use of the Russian experience in the development of technology platforms, preliminary examination of innovative projects, assignment of Skolkovo project participant status.

Next goes agreement on cooperation between Astana EXPO-2017 NC and the International Rosatom Network company that provides for granting to the Russian state corporation the status of the international exhibition partner.

Eurasian Development Bank has signed a number of agreements, including with Chelyabinsk region on construction of manganese metal production the capacity of 33 000 tons per year, also on construction of open pit mining of copper and copper-zinc ore in Kazakhstan’s Kundyzdy field the capacity of up to 2.0 million tons of ore per year, and construction of external and internal infrastructure, also the loan agreement with JSC Sokolovo-Sarbai mining and processing production – financing the costs associated with the production of export wares (iron ore, pellets). The output will be delivered to Russia’s Magnitogorsk Metallurgical Plant that processes Kazakhstan ore.

Memorandum of Understanding was signed between the Eurasian Development Bank and JSC INTERSKOL, providing funding for electric tools production in Russia, Kazakhstan and Belarus.

A number of documents aimed at the development of the automotive, transport and logistics was inked, also a license agreement between SaryarkaAvtoProm Company and Sollers company on transfer of rights on production of UAZ cars in Kazakhstan.

It is noteworthy that Russia has traditionally been the largest trade partner of Kazakhstan. In 2015, trade turnover between the two countries made $ 14.57bn, including exports – $ 4.34bn, imports – $ 10.23bn.