Akhmetzhan Yessimov, CEO of "Samruk-Kazyna" JSC, held a meeting with the management of the UAE sovereign wealth fund Mubadala Investment Company. During the meeting, the parties discussed current cooperation and prospects for co-investment in various sectors of the economy of the Republic of Kazakhstan.

For reference: Mubadala Investment Company is a global investment company owned by the government of Abu Dhabi with USD 232 billion in assets under management.

Currently, the entry of NC "Kazakhstan Temir Zholy" JSC into the project for the construction of modern warehouses on the territory of the "Khorgos-Eastern Gate" FEZ, which was carried out with the participation of Mubadala Investment Company, is being considered.

Taking into account the transformation and transition to the investment holding model, the head of "Samruk-Kazyna" JSC invited the UAE sovereign fund for further joint investment in other areas, such as renewable energy projects, in the mining, telecommunications sectors and infrastructure projects.

During the visit, strategic documents were signed.

"Samruk-Kazyna" JSC and Mubadala's subsidiary Abu Dhabi Future Energy Company (Masdar) signed a Memorandum on the development and study of the renewable energy sector in Kazakhstan.

KMG Drilling & Services and Caspian Drilling Company signed an Agreement on drilling wells with the Kazakhstan jack-up rig Satti in the Azerbaijani sector of the Caspian Sea, where Azerbaijani SOCAR and British Petroleum are conducting joint exploration work.

In addition, negotiations were held with other potential investors, including on cooperation in projects of a gas chemical complex in the Atyrau region. The construction of the Polypropylene plant worth USD 2.6 billion is being completed this year.

The first batch of products will be released in 2022.

For the implementation of the Polyethylene project, which costs USD 6.5 billion, documentation is being developed and a strategic investor is being sought.

These projects are being implemented by the "Samruk-Kazyna" JSC. They are of strategic importance for the development of gas chemistry and are aimed at deep processing of raw materials from the Tengiz field.

The implementation of the projects will allow for the first time to create large-scale processing facilities and launch the production of basic products for a wide range of industries for industrial and consumer consumption.