Kazakhstan delegation headed by the Minister for Investment and Development of the Republic of Kazakhstan Zhenis Kasymbek visited China
Under the agreement signed between the Government of the Republic of Kazakhstan and the Government of the People's Republic of China on strengthening cooperation, the 15th meeting between the Ministry of Development and Trade of the Republic of Kazakhstan and the National Development and Reform Commission of the People's Republic of China on discussion of joint investment projects was held. Throughout the conversation the parties reviewed a list of joint industrialization and investment projects. The event was organized with assistance of the Embassy of the Republic of Kazakhstan in the PRC and the “KAZAKH INVEST” NC JSC.
The Minister for Investment and Development of Kazakhstan, Zhenis Kasymbek, held more than 10 meetings with major Chinese businessmen during the visit to discuss implementation of current projects and prospects for further cooperation with potential investors.
Today, Chinese companies are actively investing in Kazakhstani projects in field of renewable energy sources. The Universal Energy company implements projects on construction of solar and wind power plants, totaling about 400 million USD. This year, Beijing Jiufang Tianhe New Energy Technology company has also invested in a construction project of a wind power plant in Mangistau Oblast. The project launch is expected in 2019. Prospects for further cooperation with the Canadian Solar and China Energy Engineering Corporation management in solar energy development in Kazakhstan were reviewed during the meetings.
The Horgos Xingbang Trading Co., management told about plans to build a plant in production of electrolytic manganese in the Karaganda Oblast in course of discussing joint work prospects. The plant capacity will be 60 thousand tons per year. The amount of Chinese investment will exceed 50 million USD. This type of product with high added value is innovative for Kazakhstan.
During the meeting with the China CAMC Engineering Co. Ltd. (CAMCE) management, the parties discussed a modern complex construction for agricultural crops processing in the Kostanay Oblast. Total investment in this project will be about 300 million USD.
Birzhan Kaneshev, the Deputy Chairman of the Board of the “KAZAKH INVEST” NC JSC discussed the investment climate improvement in the Republic of Kazakhstan with the participants during the above meetings.
References:
China Machinery Engineering Corporation (CMEC) is an engineering conglomerate founded in 1978. CMEC's business covers more than 150 different countries and regions in field of international engineering contracts and international trade in general. The company has 26 branches in China, as well as 13 branches and 26 representative offices in Hong Kong and other countries.
Universal Energy was founded in 2015. The company focuses on development and generation of clean energy sources, operates in such countries as the USA, Canada, Japan, Malaysia, Nepal, Laos, Russia, Kazakhstan, Dubai (UAE) and has subsidiaries in Hong Kong, Mongolia, Liaoning, Zhejiang, Jiangsu provinces. Authorized capital of the company is 100 million CNY (about 15.87 million USD).
Beijing Jiufang Tianhe New Energy Technology was established in August 2011. The main activities are investments, construction and technical support of renewable energy projects. Total amount of installed power capacity is 500 MW. Number of employees is 500 people.
China Energy Engineering Corporation Ltd (CEEC) is a Chinese state-owned energy conglomerate headquartered in Beijing. Established in 2011, it is one of the largest suppliers of integrated solutions for both China’s energy industry and worldwide. CEEC is ranked 754 in the Forbes Global 2000 ranking, and 312 in the Fortune Global 500 list. Assets amount to 52.8 billion USD. Revenue is 34.8 billion USD.
