As part of the investment round table in Xi’an, with the participation of the President of the Republic of Kazakhstan Kassym-Jomart Tokayev and business representatives, Samruk-Kazyna Invest signed significant bilateral documents with strategic partners from the PRC, such as CITIC Construction Co Ltd. for the implementation of the project “Construction of a gas chemical complex for the production of methanol with a capacity of 130 thousand tons per year”, with Yongce Group Co Ltd. for the implementation of the project “Creation of a plant for the production of closed high-voltage automatic vacuum circuit breakers.”
The implementation of the methanol production project, together with CITIC Construction Co, will provide domestic oil refineries with high-quality raw materials, which will lead to import substitution of methanol in the Republic of Kazakhstan by 49 thousand tons per year, and will also create more than 230 high-quality jobs. In addition, CITIC Construction Co will provide training and education for the engineering and technical personnel of the future plant from among the local population. After the implementation of this project, the Partners will continue their cooperation in terms of creating a production facility for deeper processing, the product of which will be paraformaldehyde.
The implementation of the project for the production of a closed high-voltage automatic vacuum circuit breaker with the strategic partner “Yongce Group Co” will make it possible to cover the existing needs of Kazakh companies in the field of energy and electrical equipment with high-quality domestic products, as well as to export to neighboring countries. The project provides for attracting foreign investment, as well as creating more than 30 jobs. Additionally, the strategic partner’s task is to introduce new production technology and train local production personnel.
Under the leadership of the Managing Director for Development and Privatization of JSC “National Welfare Fund”
“Samruk-Kazyna” Zhanadil E.B. cooperation with major Chinese companies has been developed
corporations China Power International Holding Ltd. (CPIH) and Power China by
development of renewable energy, as well as with SANY Renewable Energy regarding
localization of a plant for the production of wind power components in
Kazakhstan. It is expected that Samruk-Kazyna Invest LLP will act as a local
partner of SANY Renewable Energy for the construction of a plant taking into account the portfolio of renewable energy sources
projects of JSC “National Welfare Fund “Samruk-Kazyna”. During the visit, General Director Abilmazhinov S.M. took part in negotiations with large Chinese companies such as CITIC Group, CITIC
Capital”, “Xian AiJu Cereals Oil Industry”, “VODAR” in order to familiarize themselves with investment tools and discuss potential cooperation of Samruk-Kazyna Invest LLP.
A business visit to Xi’an made it possible to strengthen friendly partnerships between the business communities of the two countries, as well as emphasize the investment attractiveness of the Republic of Kazakhstan for foreign investors.