Samruk Kazyna Discusses Investment, Infrastructure, and Digital Growth
Kazakh Prime Minister Emphasizes Role of Private Investment in Major Infrastructure Projects
During a recent meeting with the board of directors of the Samruk Kazyna Sovereign Wealth Fund, Kazakh Prime Minister Olzhas Bektenov underlined the crucial role of private investment in accelerating major infrastructure projects, industrial developments, and digitalization in the country. The meeting, which took place on Feb. 10, also highlighted the importance of effective monitoring to ensure that projects are completed on time and within budget.
The discussions at the meeting focused on the fund’s performance in 2024 and its future growth, in line with the directives of President Kassym-Jomart Tokayev during an expanded government meeting held on Jan. 28. Nurlan Zhakupov, chairman of the board, presented significant investment initiatives, including the restoration of power unit No. 1 at Ekibastuz State Regional Power Plant with an increased capacity of 4,000 megawatts, as well as a gas infrastructure project for Almaty Combined Heat and Power Plants to improve environmental conditions.
Various key projects, such as the introduction of a fifth compressor at Karachaganak field and the construction of a cargo terminal in Xian to enhance Kazakhstan’s transport and logistics capabilities, were also discussed. Additionally, the meeting highlighted the progress made in the construction of gas pipelines and railway tracks, as well as the launch of train services on the Dostyk-Moiynty railway.
Currently, there are 46 investment projects underway in sectors like oil and gas, energy, transport, and petrochemicals, with a total value of 33.3 trillion tenge (US$64.9 billion). Plans for this year include gas supply projects, the development of a desalination plant, and enhancements to transport routes and railways in the region.
Efforts are also being made to boost local content in projects, with targets set at 85% for transport and logistics, 60% for energy, and 80% for other sectors. In 2024, contracts worth 1.1 trillion tenge (US$2.1 billion) were signed with domestic producers, marking a significant increase from the previous year. The fund’s procurement system now meets high standards set by international bodies like the European Bank for Reconstruction and Development and the Organization for Economic Cooperation and Development.
Overall, the Kazakh government is committed to attracting private investment and ensuring the timely completion of major projects to drive economic growth and development in the country.
