Olzhas Bektenov, Prime Minister of the Republic of Kazakhstan, held a meeting of the Board of Directors of Samruk-Kazyna Sovereign Wealth Fund JSC. During the meeting, the key aspects of the Fund’s activities for the first seven months of this year, as well as the implementation of priority investment projects, were considered.

Nurlan Zhakupov, Chairman of the Management Board of the Fund, presented a report including key events, production and financial indicators for the reporting period. 

According to operational data, the actual values of the Fund’s revenue and EBITDA for 7M 2025 exceeded the planned ones by 6% and 15%, respectively. The over-fulfillment was due to increase in sales of crude oil and petroleum products, production of oil and gas condensate, as well as growth in gas sales for export.

The members of the Board of Directors were also provided with information on the development of R&D and the introduction of artificial intelligence in the Fund’s group companies.

The Board of Directors also heard information on the progress of 52 major investment projects covering priority sectors of the economy. The projects are implemented within the framework of the instructions of the Head of State, state and government programs.

In the reporting period, Samruk-Kazyna JSC achieved significant results in the energy sector, transport, logistics and oil and gas infrastructure.

In the energy sector, construction of the Kokshetau thermal power plant has begun, and construction and installation work was launched on the expansion of Ekibastuz GRES-2 with the installation of power unit No. 3. The modernization of CHP-2 is also continuing, where the installation of the first Siemens gas turbine has already been completed. In the oil and gas sector, a contract was signed for the construction of a gas separation complex, and the first seawater desalination production line in the Kenderli settlement was put into operation.

Significant changes have also been recorded in the transport and logistics infrastructure: the construction of the Bakhty-Ayagoz railway line is underway, and marine surveys have begun to lay a fiber-optic communication line along the bottom of the Caspian Sea.

This year, projects such as the expansion of the Caspi Bitum plant and the construction of the ZHETYSU container terminal have already been completed. A number of projects are in progress, which are scheduled to be completed this year: train traffic on the second tracks of the Dostyk–Moiynty railway line has been partially launched, a container hub in the port of Aktau has been put into operation, the linear part of the Taldykorgan–Usharal main gas pipeline has been completed, and construction of an encircling railway line bypassing Almaty continues. 

In addition, as part of the diversification of financing sources, the Board of Directors of the Fund approved the attraction of external borrowing through the debut issue of panda bonds on the PRC market.

The implementation of these initiatives demonstrates the Fund’s systematic approach to infrastructure development, ensuring sustainable economic growth and improving the quality of life of the population.

Photo source: Press Service of the Government of the Republic of Kazakhstan