On November 3, 2015, the constituent meeting of the Kazakh-British Business Council (KBBC) took place during the official visit of the President of the Republic of Kazakhstan Nursultan Nazarbayev to the United Kingdom.

The organizers of the meeting were «Samruk-Kazyna» and the United Kingdom Trade & Investment. The event was attended by about 200 representatives of companies and government agencies of the UK and Kazakhstan.

The panel sessions on investment opportunities of Kazakhstan, transformation program and privatization, future energy in the framework of the exhibition «Astana EXPO-2017» were held within the Council. In addition, bilateral meetings and negotiations were conducted.

Following the meeting Kazakh companies, including subsidiaries of the Fund have signed a number of bilateral agreements with the British side in the oil and gas, mining and energy sectors. Potential implementation of agreements is estimated at about $ 3 billion.

In particular, «Samruk-Energy» JSC signed an agreement with EBRD on financing of the modernization of Shardarinskaya HPP worth about $ 51.4 million, “Samruk-Kazyna Invest» LLP signed an agreement with the United Green Group on the implementation of investment projects worth $ 105,5million on extension of capacity solar power plant «Rapid» in Zhambyl region from 50 MW to 100 MW.

They also signed a memorandum between JSC «NC» KazMunayGas» and Vitol group of companies on a joint study of the geological potential sites on the territory of Kazakhstan.

JSC «NC «Astana EXPO-2017» and Shell in Kazakhstan have agreed on the participation of British companies as a global partner of the exhibition. In addition, «Intergazstroy» JSC and William Hare Limited agreed to create industrial clusters around Karachanak oil and gas field.

«We have gathered here to discuss the possibility of mutually beneficial cooperation with the British business, talk about the possibilities of investing in Kazakhstan's economy. The Kazakh-British Business Council will be not only a platform for the conclusion of mutually beneficial agreements, but also a bridge for exchange of experiences, knowledge and ideas,» Chairman of the Management Board of the Fund Umirzak Shukeyev told speaking at the KBBC meeting.

«Today, we celebrate not only the long-term partnership between Kazakhstan and the United Kingdom, but also a new chapter in our relations. I look forward to working with you all,» he added.

Reference:

UK Trade & Investment - is the UK Government department whose main task is to promote domestic business to international markets and attract investments.

KBBC was created for development of business relations and cooperation in various sectors between Kazakhstan and Great Britain. The relevant document was signed between «Samruk-Kazyna» JSC and UK Trade and Investment during the Kazakh Prime Minister visit to the UK in February 2015.