China Becomes Main Investor Of Kazakhstan – Nazarbayev
President of Kazakhstan Nursultan Nazarbayev met with the Prime Minister of China Li Keqiang, Kazpravda.kz reports citing the press service of Akorda.
During the meeting they discussed the progress of agreements reached between Kazakhstan and China during the visit of the Head of State to China in September this year.
The President of Kazakhstan, noting China as an important strategic partner, said that he considers the established relationship between the two countries as an exemplary model. “During the last visit to Kazakhstan you have suggested an economic cooperation program. Under this program a number of agreements were reached”, – said Nazarbayev.
President of Kazakhstan reminded that in September, a wide range of issues of bilateral relations and international agenda were discussed. “During the visit, an agreement was reached on 51 projects totaling more than $ 20 billion. Thus, the PRC serves as the main investor of the republic”, – Nazarbayev said.
China and Qatar to allocate up to $ 150 mln for Kazakhstan’s infrastructure projects.
The corresponding Agreement was signed in Astana during the official visit of the Chinese State Council Premier Li Keqiang to the Republic of Kazakhstan.
JSC “Kazyna Capital Management” (KCM) (part of the NMH “Baiterek”), Chinese investment company CITIC Capital, as well as a private equity fund Kazakhstan Infrastructure Fund (KIF) have agreed on joint investment in infrastructure projects in our country, Kazpravda.kz reports.
Under the agreement, CITIC Capital will invest in infrastructure projects in Kazakhstan jointly with Kazakhstan Infrastructure Fund of direct investments within the group of KCM funds.
The mechanism of co-investment as specified in the press service of the KCM involves one of the largest investors of Qatar – Qatar Investment Authority, which acts in the interests of CITIC Capital.
“We were able to reach an agreement with the major investors of Qatar and China. “Kazyna Capital Management” appreciates the trust of the international investors. This cooperation will enable local companies in the field of infrastructure to receive additional support from foreign investors”, – said chairman of the KCM Almas Agibaev.
He added that the potential amount of money to invest in a partnership with the Chinese and Qatari investors will make up to $ 150 million.
JSC “Kazyna Capital Management” (KMC) is Kazakhstan fund of private equity funds. KCM jointly with institutional foreign investors is a shareholder in investment funds providing capital to enterprises in the fastest growing sectors of the economy.
CITIC Capital is an investment company, a member of the group of companies of one of the largest state-owned investment corporations of China CITIC Group (China International Trust and Investment Corporation). The main goal is to attract foreign capital, use the advanced technologies and business models, including management.
Kazakhstan Infrastructure Fund C.V. (KIF) is a private equity fund set up by the joint-stock company “KCM” to support infrastructure projects in the Republic of Kazakhstan.
Qatar Investment Authority is Qatar’s sovereign fund, established in 2005 with a total amount of assets – more than $ 330 billion.