Kazakhstan Chamber of Commerce in the USA

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A number of important agreements on development are signed during Astana Economic Forum

Posted on June 05, 2015 by KazCham

Samruk Kazyna

Astana Economic Forum has become a platform for partners to conclude talks and sign agreements.

On May 22, 2015 «Samruk-Energy» JSC signed a number of bilateral documents aimed at development of cooperation in elaborating innovative technologies during VIII Astana Economic Forum. The agreements have been made possible as a result of “Samruk-Kazyna” Fund visit to the Silicon Valley in California (USA).

The participants of the signing ceremony were the CEO of Primus Power Corporation Tom Stepien, professor of the Stanford University Friedrich Prinz, Professor of the University of California at Berkeley Daniel Alden Fletcher.

The bilateral agreements comprised an agreement with Stanford University in power industry; an agreement with the University of California in Berkley in the field of biomedicine; and an agreement with Primus Power Corporation on the development of electricity storage devices.

Primus Power Corporation and “Samruk-Energy” JSC agreed to establish a joint venture for  production and supply of energy storage systems  EnergyPod®  in the Republic of Kazakhstan. The joint project aims at development of renewable energy sector.

On the margins of the Astana Economic Forum, another agreement with the EBRD on loan was signed to modernize the tramway system in Pavlodar city. The EBRD-supported project will modernise a third of the tram fleet by purchasing 25 new tram cars, fix rail junctions and upgrade other related infrastructure. The EBRD will lend up to 2.5 billion tenge (€10 million equivalent) to the municipal tram system operator, JSC Pavlodar Tram Management Company, which will also receive a capital grant from the government of Kazakhstan of up to 910 million tenge (€3.71 million equivalent).  Additional support to the project will be provided by the regional government (Akimat).

At the signing ceremony, EBRD Managing Director Natalia Khanzhenkova said: “The modernisation programme will include not only physical upgrades but also introduction of a Public Service Contract, a mechanism to boost performance, cost effectiveness and transparency”.

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