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Sustainability Report / 2025

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About the Fund

GRI 2-2 GRI 2-6 GRI 201-4
Sovereign Wealth Fund Samruk-Kazyna JSC was established in 2008 by Decree of the President of the Republic of Kazakhstan. The Fund plays a key role in ensuring the sustainable development of the country's economy by managing strategically important state assets.

The Government of the Republic of Kazakhstan is the Sole Shareholder of the Fund. Relations between the Government and the Fund Group are conducted through the Board of Directors in accordance with the principles of corporate governance.

The Fund’s purpose is to enhance the national welfare of the Republic of Kazakhstan (RK) by increasing the long-term value of Group companies and effectively managing the Fund’s assets.

The Fund manages strategic assets across multiple sectors of the economy The portfolio includes companies in the oil and gas, petrochemical and chemical, transport and logistics, mining and metallurgical, power, and telecommunications sectors.

The Fund operates across the entire territory of the Republic of Kazakhstan.²

  1. More detailed information on the geography of the Fund's largest portfolio companies can be found in the Fund's Annual Report for 2025 in the Asset Portfolio section.

Mission

To ensure sustainable economic development and create long-term value through the effective management of a diversified portfolio of assets and through business support in the interests of the people of the Republic of Kazakhstan.

Our Vision

To be the leader of the national economy, delivering a breakthrough in innovative development on the principles of people's well-being and environmental protection through responsible investment.
21.2 KZT trillion
Revenues +15% vs 2024
2.3 KZT trillion
Taxes (RK) +9% vs. 2024
100 %
Government of the Republic of Kazakhstan
2008
Year of incorporation
22 nd among
the world's largest funds by assets (SWFI, 2025)
Baa1
Stable
BBB-
Positive
BBB
Stable

Samruk-Kazyna JSC is a system-forming element of Kazakhstan's economy. It is light and heat, fuel and motion, communications and infrastructure.

Energy
Sector
38.1 %
share of total coal mining
31.3 %
share of total electricity generation 
Mining and Metallurgical
Sector
21 %
share of global uranium production
Oil and Gas
Sector
80 %
share of oil refining
57 %
share of oil transportation
26 %
share of oil and condensate production
Transport
and Logistics Sector
77 %
share of rail freight transportation
74 %
share of rail passenger transportation

Artificial Intelligence

In 2025 we developed and rolled out artificial-intelligence-based solutions in line with national digitalization priorities and with our own objectives to improve management and operational efficiency. The Fund is developing a unified approach to the use of AI, creating its own solutions and rolling them out across its portfolio companies.

AI tools are being integrated into all key processes – from managing operational tasks to supporting decision-making at the Board of Directors level. 

Samruk-Kazyna JSC: business model

as of 31 March 2025.

Key sustainable development indicators

Economic
dimension

ESG rating,
percentile

EBITDA,
KZT trillion

Science and innovation (projects),
KZT trillion

Social
dimension

LTIF³

Charity,
KZT trillion

Regional social support, KZT trillion

Allocations to the Kazakhstan Khalkyna Public Foundation, KZT trillion

Environmental
dimension

Environmental protection expenditure, KZT trillion

Investment projects in renewable energy, GW

Carbon footprint,
million tonnes CO₂-eq.

  1. According to the Occupational Health and Safety Management System Development Strategy of JSC "Samruk-Kazyna" for 2024-2028, LTIF (Lost Time Injury Frequency) is the number of company employees injured in lost-time accidents classified as severe industrial injuries according to the industrial injury severity medical report (including fatalities), multiplied by 1 million man-hours and divided by the total number of man-hours worked over the 12 reporting months.

Investment projects completed in 2025

Construction of a railway bypass around the Almaty rail junction

Length 77 km
Effect for the country
  • 40% offloading of the Almaty transport hub
  • 24-hour reduction in cargo delivery time
  • Increase in freight volumes by>14 million tonnes by 2034

Construction of the Taldykorgan–Usharal trunk gas pipeline

Length >300 km
Effect for the country
Support for the gasification of 84 settlements in Zhetisu Region

Modernization of the Dostyk-Moyynty railway corridor construction of second tracks

Length 836 km
Effect for the country
5x increase in throughput capacity of the China–Europe corridor (up to 60 train pairs per day)

Wind-turbine component production with SANY RE in the Zhambyl Region

Effect for the country
Localized production of wind-turbine components with a capacity of up to 2 GW per year

Construction of the ZHETYSU container terminal

Capacity up to 115,000 TEU per year⁴
Effect for the country
  • Direct access to the Belt and Road route
  • Reduction of logistics costs for Kazakhstani businesses

Expansion of bitumen production at CASPI BITUM JV LLP

50% increase in bitumen production (to 750,000 tonnes)
Effect for the country
Full coverage of domestic bitumen demand

Construction of a 50 MW solar power plant together with ENI in Zhanaozen

Effect for the country
Generation of clean energy for oil and gas facilities through a hybrid complex (solar, wind and gas generation) with a total capacity of 247 MW

Construction of a seawater desalination plant in Kenderli

Effect for the country
Elimination of water deficit in Mangystau Region: 50,000 m³ of fresh water per day

Creation of a container hub at the port of Aktau

Effect for the country
Growth of the Trans-Caspian route’s transit capacity to up to 240,000 TEU per year

Production of digital gas meters with Gold card

Effect for the country
Output of 500,000 digital devices per year to enable accurate metering and eliminate gas losses
  1. The international accounting unit for container fleet and cargo turnover, corresponding to the volume of one standard container with a length of 6.1 m.

ESG ratings

Climate ratings

The 2024 Sustainability Report of Samruk-Kazyna JSC took second place in the rating of reports of the Kazakhstan Stock Exchange (KASE).
March 2026

According to the results of the annual RAEX (RAEX-Analytica) rating – Russia's largest agency for non-credit ratings – Samruk-Kazyna JSC received 5 stars for the highest quality of public non-financial reporting.
December 2025

According to the results of the annual PwC Kazakhstan rating "TOP-50 best companies in ESG disclosure", the 2024 Sustainability Report of Samruk-Kazyna JSC was named winner in the category "Best disclosure of sustainability strategy".
December 2025