KAZAKH INVEST and EnerTech Holding signed a Memorandum of Cooperation
The prospects of bilateral cooperation in the field of infrastructure, water treatment facilities, renewable energy, and food security were discussed during the meeting of Zhandos Temirgali, Deputy Chairman of the Board of “KAZAKH INVEST”, with Abdullah A. Al-Mutairi, CEO of EnerTech Holding Company KSC.
During the meeting, the head of EnerTech Holding, Abdullah A. Al-Mutairi, announced his interest in considering the possibility of investing and developing solar energy and the agro-industrial complex in Kazakhstan.
It should be noted that along with the implementation of projects in the field of agriculture, several topics related to the creation of an agricultural investment fund were discussed during the negotiations. The parties noted that they plan to implement this project jointly with the “Kuwait Investment Authority” (KIA), which has been operating since 1953, which is the world's oldest national welfare fund.
In turn, Zhandos Temirgali informed the Kuwaiti side about the system of state support for investors, noting specific investment opportunities in the above-mentioned sectors.
Following the meeting, the parties signed a memorandum of understanding on the development and implementation of investment projects in the Republic of Kazakhstan and agreed on the need to further strengthen cooperation.
For reference:
EnerTech is a subsidiary of the National Technology Company (NTEC). Founded in 2012, EnerTech invests in its development projects and participates in projects in the field of energy, clean technologies, recycling, water supply, waste disposal and renewable energy sources.
Kuwait Investment Authority (KIA) - founded to manage the funds of the Government of Kuwait in light of financial surpluses after the discovery of oil. KIA's mission is to achieve a long-term investment return on the financial reserves transferred by the State of Kuwait to KIA, providing an alternative to oil reserves, which would allow future generations of Kuwait to overcome future uncertainties with greater confidence.
