Kazakh National Wealth Fund Samruk-Kazyna plans to invest 121 billion tenges in the development of growing companies in 2017 to catalyze new industries and contribute to modernization of the economy.
It is envisaged by the fund’s Development Plan for 2017-2021 approved by the Board of Directors of Samruk-Kazyna, the fund said in a message on April 3.
“By the end of 2021, the cumulative investment in new and growing companies will reach 273 billion tenges,” the fund said.
Within the Development Program, in the next 5 years Samruk-Kazyna will continue to focus on improvement of portfolio management; implementation of the privatization program; development of the investment portfolio with a focus on new industries; transformation of the portfolio companies; transition of the fund’s corporate center to the new functional model; and enhancing financial sustainability.
Samruk-Kazyna is owned by the government of Kazakhstan. The fund’s assets hit about 22.33 billion tenges as of September 30, 2016. Samruk-Kazyna group includes biggest Kazakhstan’s companies in oil and gas, transport and logistics sectors, chemical and nuclear industry, mining and metallurgy, energy, machinery building and real-estate sectors. (Trend/Business World Magazine)