Kazakhstan Chamber of Commerce in the USA

KazCham


Launch of Almaty-Baiserke-Talgar Gas Pipeline 0

Posted on November 25, 2014 by KazCham

Business Intelligence from Colibri Law Firm: Issue #96 

Almaty Oblast Akim, Amandyk Batalov and General Director of KazTransGas, Serik Sultangali have unveiled a new gas pipeline as part of a plan to provide gas to the entire region. “The investment project to build the Almaty-Baizerke-Talgar main gas pipeline has been implemented to pursue the goals outlined in the presidential state-of-the-nation address, and to develop the gas infrastructure of the Almaty Oblast. This gas pipeline, with a capacity of 2.4 billion cubic meters per year, will provide gas to 60 populated areas with a total of 380 thousand inhabitants. In the future, the project will provide gas to 600 thousand people. In addition, in the future, after the completion of the Almaty-Taldykorgan gas pipeline, gas will become available to 80% of the population of the Almaty Oblast,” the akim specified.

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Kaveh Glass Industrial Group and Kazakhstan Joint Venture on Orda glass factory 0

Posted on November 23, 2014 by KazCham

Business Intelligence from Colibri Law Firm: Issue #96 

Orda Glass Co. With Kaveh Glass Co. managers and expert efforts which is a consortium of Kaveh Glass Co. and Kazakhstan Governmental investing Corporation will be found in Kyzyl Orda City in South of Kazakhstan. This large scale plant has 197000 MT flat glass production capacity per year which includes Float Glass, Reflective Glass and mirror and is designated to expand phases for glassware and soda ash factories. The beginning of project will be in October 2014 in presence of Kazakhstan supreme authorities and anticipated to finalize in next 3 years. This project will creates about 500 job opportunities in its premiere phase and this number will be increased according to future plans. Most of production will be consumed for interior market needs and also will have partial exportation to neighbors and in the CIS countries.

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A new solar power plant to be built 0

Posted on November 22, 2014 by KazCham

Business Intelligence from Colibri Law Firm: Issue #96 

“The local authorities of the city of Astana in accordance with the presidential decree “On the Concept of Kazakhstan’s transition to green economy” are working on the project on building a solar power plant with capacity of 50 megawatts,” the managing director of the Directorate for the implementation of the International specialized exhibition EXPO-2017 Mukhtar Gazizov said. Private investment is planned to be attracted for the project, the area intended for the plant is 125 hectares. It is expected that plant will be launched in the first quarter of 2016. The local content will be one of the main principles while building the plant. For example PV modules for the plant will be supplied by Kazakh Astana Solar company.

 

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UAE Central Bank signs MoU with National Bank of Kazakhstan 0

Posted on November 21, 2014 by KazCham

Business Intelligence from Colibri Law Firm: Issue #96 

The Central Bank of the UAE on Sunday announced the signing of a Memorandum of Understanding (MoU), with the National Bank of Kazakhstan on cooperation and exchange of regulatory information. The agreement puts in place a mechanism for cooperation between the two banks on regulatory matters, supervision of banks and other financial institutions operating in both jurisdictions. The mechanism also covers the exchange of supervisory information in line with local laws of each jurisdiction and within the Bank for International Settlements and home/host country’s supervisory authorities, and information sharing, which would contribute to the enhancement of the financial system in the UAE and the Republic of Kazakhstan.

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Kazakh Eurasian Bank plans to issue $500 million worth of Eurobonds 0

Posted on November 20, 2014 by KazCham

Business Intelligence from Colibri Law Firm: Issue #96 

The Board of Kazakh Eurasian Bank decided to issue Eurobonds in the amount of up to $500 million. The bank plans to issue up to 500,000 loan securities, the nominal value of one security is $1,000. Placement of securities may be carried out both in Kazakhstan or/ and abroad, including the UK or/ and the EU countries, South-East Asia, Russia or any other countries. The issuer plans that the coupon interest rate will be fixed at up to 7.5 percent per annum. The circulation period will reach three years.

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Bechtel selected for oil production facility expansion project in Kazakhstan 0

Posted on November 19, 2014 by KazCham
Business Intelligence from Colibri Law Firm: Issue #96

Bechtel has been awarded a contract to provide engineering, procurement, and construction services to build four crude-oil storage tanks at the TengizChevroil oil production facility in Tengiz, Kazakhstan. The company also will modernize the fire and gas detection systems across the entire crude tank farm. TengizChevroil is a joint venture of Chevron, ExxonMobil, KazMunayGas, and LukArco.

The project will add to the existing facility 500,000 barrels of tank storage, export pumps, interconnecting pipe, switching manifolds, a monitoring station, associated facilities, and supporting infrastructure.

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Kazakhstan’s oil and gas company exports over 70% of produced oil 0

Posted on November 16, 2014 by KazCham

Business Intelligence from Colibri Law Firm: Issue #96

Oil export sales of Kazakh companies Ozenmunaigas and Embamunaigas, the subsidiaries of the KazMunaiGas Exploration and Production (KMG EP), totalled 4,402 million metric tons in 9 months of 2014, or 74 percent of total oil sales. “Aside from that, some 50,000 metric tons of oil was delivered to Russia in September for fulfilment of commitments on counter oil supplies in line with the intergovernmental agreement between the two countries,” the company said.

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Kazakhstan working for transcontinental connectivity 0

Posted on November 14, 2014 by KazCham

The Astana Times

An editorial in The Astana Times praised Kazakhstan’s  efforts to promote “transcontinental connectivity” and its achievements in following a “multi-vector foreign policy.”

Kazakhstan enjoys treaties, strategic partnerships and cooperation with many international bodies like the UN, the Asian Development Bank, the World Bank, and others. It’s recent acceptance into the Asia-Europe Meeting (ASEM) was another huge step in this direction.

Kazakhstan further aims to build connections with China, Russia, Europe and Asia, through economic and infrastructural projects.

President Nazarbayev has in the past urged the international community to take “real action in matters of elimination of protectionist barriers, opening markets and increasing bilateral trade.” He has spoken against international sanctions and for the need to reform the global financial architecture.

One of Kazakhstan’s top priorities is revitalizing the Silk Road, connecting Europe and Asia through projects like the Western China-Western Europe highway and through diversifying energy.

Kazakhstan was the only Central Asian country to be invited to the ASEM summit, where more than 50 other countries interacted. President Nazarbayev spoke with many leaders from countries like Britain, Japan, Germany, China, South Korea, Hungary, Italy and the Netherlands to expand mutual cooperation. These meeting, Nazarbayev has said, helped raise Kazakhstan’s profile at the world stage and attract investments for Kazakhstan’s economic development.

Kazakhstan is also flexible in its foreign policy and continues to strengthen relations with Russia, while developing strong ties with China in key areas of trade and economic development.

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Kazakh businessmen seek international cooperation 0

Posted on November 13, 2014 by KazCham

Forbes

Over 150 entrepreneurs from all over Kazakhstan converged on Astana on Wednesday, October 22, to discuss prospects of international business cooperation and exchange best practices. The meeting was held in the framework of project “Business Ties,” part of Kazakhstan’s business roadmap 2020. The goal of the initiative is to foster business cooperation between Kazakhstan, the United States and Germany.

More than 500 Kazakh businessmen have taken part in training in Germany since the program launch in 2011. Many of them bring back valuable experience and business deals to their home country. Among participants were representatives of program partners, the German Federal Enterprise for International Cooperation (GIZ) and the United States Agency for International Development (USAID). The program aims to unlock the potential of Kazakh entrepreneurs by establishing business ties and cooperation with foreign companies.

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Kazakhstan seeks to collaborate with Japan to promote the energy sector 0

Posted on November 13, 2014 by KazCham

Environment News Service

 At the fifth meeting of the Kazakh-Japanese Intergovernmental Commission on Economic Cooperation, Kazakhstan’s Prime Minister Karim Massimov said that it will explore collaboration with Japan to manufacture electric and hybrid vehicles.

Massimov remarked that “Japan has high-tech, Kazakhstan has the natural resources and hardworking people,” and that cooperation in the nuclear and automobile sectors will be mutually beneficial.

Over 200 delegates were present at the meeting, including delegates from 40 Japanese companies like Toyota.

Other areas of cooperation indicated by the two parties included telecommunications, space industry, agriculture, transport and metallurgy.

Asset Issekeshev, Kazakhstan’s minister of industry and trade, said that Japan was a priority investor country, and Kazakhstan has implemented a visa-free regime for Japan.

Kazakhstan’s push for electric and hybrid vehicles is in line with its Green economy program, and the Expo 2017 which will take place in Astana from June 10-September 20, 2017.

The Expo’s theme is Future Energy, and Kazakhstan expects over 100 countries to attend the Expo. In its preparation for the Expo, Kazakhstan held the First International Forum “Future Energy: reducing CO2 emissions”  which was intended to be a platform to develop research and innovation projects on issues like reducing greenhouse gas emissions, energy-efficient technologies and universal access to sustainable energy.

Electric cars were first exhibited in Kazakhstan at the First Kazakhstan International Automobile Show “Astana International Auto Salon 2013,” an event that had gained much spotlight and attention. Kazakhstan had pledged to develop the capacity for producing electric cars and is talking with several companies like Mitsubishi to take forward its plans.

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