French Company To Invest $284 Million In Kazakhstan’s Atyrau Province

French Company To Invest $284 Million In Kazakhstan’s Atyrau Province

French company Issmat investment & finance is ready to invest US $284 million in projects in Kazakhstan’s western Atyrau province, including projects to raise buffalos and grow lavender, Moy Gorod news portal of Western Kazakhstan reported.

Gumar Dyusembayev, first deputy governor of the Atyrau province, told a media briefing that the French investor plan to grow lavender on an area of one hectare in the Inder district of the province, for its further sale to French perfumery companies.

The French company will also raise buffalos in the Atyrau province. Buffalo meat is very popular and expensive in Europe, Dyusembayev said.

In addition, the French company plans to build in the Inder district a hybrid solar power plant, a greenhouse farm, and a garbage-processing plant.

In Atyrau, the province’s main city, the French investors plan to invest $20 million in completion of an unfinished concert hall building.

“Implementation of some of these projects is to begin this coming March,” the first deputy governor said. “The French company is currently insuring $284 million worth of investments that will be used for the above projects.”

In his words, a memorandum of cooperation with Issmat investment & finance was signed last September during the international forum AtyrauInvest-2016.

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