Kazakhstan delegation chaired by the Minister for Investment and Development of the Republic of Kazakhstan Zhenis Kassymbek visited the Peoples’ Republic of China
The 15th session of the Ministry for Investment and Development of the Republic of Kazakhstan and the National Development and Reform Commission of the Peoples’ Republic of China related to the discussion of joint investment projects was held as part the agreement on strengthening cooperation signed between the Government of the Republic of Kazakhstan and the Government of the Peoples’ Republic of China. During the conversation, the sides reviewed the list of joint industrialization and investment projects. The event was organized with the support of the Embassy of the Republic of Kazakhstan in the Peoples’ Republic of China as well as by NC KAZAKH INVEST JSC.
As part of the visit, the Minister for Investment and Development of the Republic of Kazakhstan Zhenis Kassymbek held more than 10 meetings with major Chinese businessmen to discuss the implementation of current projects and prospects for further cooperation with potential investors.
Today, Chinese companies are actively investing in Kazakhstan projects in field of renewable energy sources. Universal Energy Company is implementing the projects on construction of solar and wind power plants, to the total amount of almost USD400 million. This year, Beijing Jiufang Tianhe New Energy Technology company also invested in the project on construction of wind-electric plant in Mangistau region. It is intended to launch the project in 2019. Prospects for further cooperation with the leadership of Canadian Solar and China Energy Engineering Corporation companies in field of solar energy development of Kazakhstan were also considered during the meetings.
Discussing prospects of teamwork, the company’ leadership of Horgos Xingbang Trading Co., told about plans of construction of an electrolythic manganese production plant in Karaganda region. The capacity of the plant will be 60,000 tons per year. The amount of investment of the Chinese side will exceed USD 50 million. This very type of the product with high added cost is innovative for Kazakhstan.
During the meeting with the leadership of China CAMC Engineering Co. Ltd. (CAMCE), the sides reviewed the issues of construction of a modern complex for agricultural crops processing in Kostanai region. The total amount of investment in this project will be almost USD 300 million
As part of the above-stated meetings, the Deputy Chairman of the Board of NC KAZAKH INVEST JSC Birzhan Kaneshev discussed with participants of the talk the issues of investment climate improvement in the Republic of Kazakhstan.
For reference:
China Machinery Engineering Corporation (CMEC) is an engineering conglomerate founded in 1978. As a whole, CMEC’s Business covers more than 150 different countries and regions in field of international engineering contracts and international trade. The company has 26 branches in China, as well as 13 branches and 26 representative offices in Hong Kong and in other countries.
Universal Energy company was founded in 2015. The Company specializes in the development and generation of clean energy, carries out its activity in such countries as the USA, Canada, Japan, Malaysia, Nepal, Laos, the Russian Federation, Kazakhstan, Dubai (United Arab Emirates) and has subsidiaries in Hong Kong, Mongolia, provinces of Liaoning, Chekiang, Jiangsu. The authorized capital of the company is CNY 100 million (nearby USD15,87 million).
Beijing Jiufang Tianhe New Energy Technology company was established in August, 2011. The basic directions of its activity are investment, construction and technical support of projects in field renewable energy projects. The total amount of the launched generating capacity is 500 MW. The number of employees is 500 people.
China Energy Engineering Corporation Ltd (CEEC) is a Chinese state-owned energy conglomerate, has the head-office in Beijing. It was established in 2011 and is one of the largest suppliers of complex energy solutions of China, and all over the world. CEEC ranks the 754th in Forbes Global 2000, and the 312th in the list of Fortune Global 500. Assets account for USD52,8 billion. Revenues are USD 34,8 billion.