Kazakhstan, China established joint direct investment fund
May 26. BEIJING. KAZINFORM /Talgat Baimukhambetov/
Signing of constituent instruments on establishment of Kazakh-Chinese “CITIC – Kazyna Investment Fund” with total capitalization to the amount of UAD 200 mln has been held today in Beijing within the official visit of Chairman of the Board of “Samruk Kazyna” National Welfare Fund” Kairat Kelimbetov to China. Chairman of the Board of Kazakh JSC “Kazyna Capital Management” (daughter company of “Samruk Kazyna” Fund) Abai Alpamysov and Managing Director of Chinese “CITIC Capital Holding Limited” (daughter company of the CITIC Group) Wang Fanglu signed the document.A.Alpamysov noted that the work on establishment of the fund was held within the realization of the commission of the President, set upon the results of negotiations with Chinese Premier Wen Jiabao in Kazakhstan on August 17-18, 2007. He informed that the fund management will be implemented by joint professional group of managers. The activity of the fund will be aimed at the financing of companies, realizing infrastructure and other investment projects in non-oil-and-gas sectors of the economy and have significant potential for development and growth in Kazakhstan and China.
In accordance with the achieved agreement between JSC “Kazyna Capital Management” and “CITIC Capital Holdings Limited” opening of two additional direct investments funds with capitalization to the amount of USD 400 mln each is planned within two years after establishment of the Fund.