Samruk Kazyna’s $111 Billion Megaprojects Set to Boost Kazakhstan’s Economy

ASTANA – With an investment portfolio of over 130 projects worth 53.5 trillion tenge (US$111.6 billion), Samruk Kazyna Sovereign Wealth Fund anticipates a multiplier effect on Kazakhstan’s economy through its megaprojects in various key industries, the fund’s chairman Nurlan Zhakupov said at an Aug. 5 meeting with President Kassym-Jomart Tokayev.

Kassym-Jomart Tokayev receives Nurlan Zhakupov. Photo credit: Akorda

According to a press statement released by Akorda, these industries include the oil and gas, petrochemical, energy, logistics, and mining sectors.

Zhakupov reported that key production indicators for the first half of 2024 were in line with expectations. The fund’s income reached 7.9 trillion tenge (US$16.4 billion), 7% higher than planned.

The fund acts as a catalyst for foreign direct investment and co-invests with foreign partners in projects in the petrochemical, energy, transport and logistics, mechanical engineering, and digital industries.

Zhakupov spoke about the fund’s charitable projects, mentioning 40 rehabilitation centers opened in the country.

The President outlined a number of specific tasks for implementing investment and social projects and further improving the fund’s work.