Samruk-Kazyna to invest in Kyrgyz projects

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Construction of power transmission lines is one target project for the fund Thursday, June 23, 2011 – Kazakhstan’s national welfare fund Samruk-Kazyna is planning to invest in the economy of its southern neighbor Kyrgyzstan, the fund’s deputy chair said on Thursday.

“We are ready now to hire people who look for an office, because it is a very important initiative for development cooperation and the use of export potential of Kyrgyzstan,” the news agency reported Samruk-Kazyna Deputy Chairman Aidan Karibzhanov as saying in the Kyrgyz capital Bishkek on Thursday.

“The Kyrgyz-Kazakh investment fund will exist. Our representatives will quickly move forward to fulfill all the bilateral agreements,” he added.

According to, the joint investment fund will have $100 million worth of capital.

Karibzhanov met with several Kyrgyz politicians on Thursday, including Prime Minister Almazbek Atambayev and First Deputy Prime Minister Omurbek Babanov.

Babanov suggested several projects in which Samruk-Kazyna should invest.

“We offer Samryk-Kazyna to participate in construction of power transmission lines ‘Datka-Kemin.’ This is an export-oriented project: we can export electricity to south of Kazakhstan,” the Bishkek-based news agency reported Babanov as saying on Thursday.

“There are projects on HEP (hydroelectric power) construction and investment in banking sector,” Babanov added.

Prime Minister Atambayev assured Kazakhstan that “tenders will be conducted openly and transparently.”