Turkish largest companies to implement investment projects in Kazakhstan
By Kamila Aliyeva
Chairman of the Board of Kazakh Invest National Company Saparbek Tuyakbaev paid a working visit to the Republic of Turkey on February 23-24, where he met with the leaders of six major Turkish companies - KOÇ Holding, YILDIZLAR SSS Holding, YILDIRIM Holding, KİBAR Holding, SABANCI Holding, DAL Holding Investment.
Turkish businessmen were offered 47 large investment projects in Kazakhstan's priority sectors of the economy from the side of Kazakh Invest, Kazinform reported.
These holdings are large transnational companies with a total annual turnover of about $150 billion. Turkish businessmen expressed interest in implementing investment projects on the territory of Kazakhstan, noting the country's strategic location for expanding its production facilities and sales markets to the EAEU countries and China.
For example, an agreement on the production of tomato and canned products in the Kyzylorda region with was reached with KOÇ Holding. The company also expressed interest to participate in the project to produce liquefied petroleum gas.
YILDIRIM Holding starts realizing projects on exploration of solid minerals jointly with Kazgeologia JSC for $10 million, as well as for the production of soda ash in Zhambyl region. The amount of investments will be $220 million.
Yildizlar SSS Holding has agreed to implement three projects in the first half of the year: the construction of a gas-piston power plant with a capacity of 138 MW jointly with Baikonur for $50 million, the production of ceramic slabs with a capacity of 10 million square meters for $128 million in Kyzylorda oblast, exploration of solid minerals in the East Kazakhstan region with an investment of $10 million.
Meanwhile, KIBAR Holding will participate in the project for the production of sandwich panels in Mangistau region.
The management of Dal Holding decided to participate in the project for the extraction and processing of barite ores and concentrates in Zhambyl region.
An investment forum with members of the Turkish Independent Association of Industrialists and Entrepreneurs (MUSIAD) was held in Ankara with the support of the Embassy of Kazakhstan in Turkey. This organization has an extensive business network inside Turkey and abroad. The total number of members is more than 11,000.
At the forum Kazakh Invest presented Kazakhstan's investment opportunities and measures of state support in the form of preferences for foreign investors.
The head of MUSIAD Ilhan Erdal stressed that Turkish business is interested in building close economic ties with Kazakhstan.
Kazakhstan and Turkey are reliable strategic partners that are systematically expanding political, economic and cultural ties. The trade turnover between the countries was estimated at $2 billion last year. This figure is planned to increase fivefold.
---
Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva
Follow us on Twitter @AzerNewsAz