Prime Minister of the Republic of Kazakhstan Olzhas Bektenov chaired a meeting of the Board of Directors of Samruk-Kazyna JSC, during which the Fund’s performance for the first five months of the year and the progress of its key investment projects were reviewed.

Nurlan Zhakupov, Chairman of the Management Board of Samruk-Kazyna JSC, reported that the Fund had achieved its key operational and financial targets during the reporting period.

It was noted that between 2022 and 2025, the Fund completed more than 35 investment projects with a total value of KZT 3.3 trillion. These projects delivered new power generation capacity and electricity transmission infrastructure, modernized oil and gas facilities, expanded transport infrastructure, including railway lines and container hubs, and improved access to drinking water and natural gas in the regions.

In 2026, the Fund plans to complete 16 investment projects with a total value of KZT 3.3 trillion.

• In the transport sector, these include the construction of the Moiynty–Kyzylzhar and Darbaza–Maktaaral railway lines, the modernization of the Altynkol–Zhetygen and Beineu–Mangystau sections, the construction of second tracks on the Dostyk–Alashankou section, and the deployment of an automatic block signalling system on railway lines.

• In the oil, gas and energy sectors, projects scheduled for completion include a gas processing plant at the Kashagan field with an annual capacity of 1 billion cubic metres of gas, a hydrogen production unit at the Pavlodar Petrochemical Plant being developed jointly with Air Liquide Munay Tech Gases, the modernization of Almaty CHP-2, a combined-cycle gas turbine power plant in the Turkistan Region, and a hybrid power plant being implemented in partnership with ENI.

• In addition, the Fund plans to complete a data centre in the city of Kosshy and lay a fibre-optic communication cable along the bed of the Caspian Sea.

The meeting also reviewed the implementation plans for the Fund’s long-term investment programme. Between 2027 and 2029, the Fund plans to complete 36 investment projects with a total value of KZT 21 trillion. These projects include the construction of new energy facilities, including CHP plants and renewable energy projects, the expansion of electricity transmission infrastructure, the implementation of major oil, gas and petrochemical projects, the development of railway infrastructure, the rollout of the 5G network and digital infrastructure, and the creation of a Data Centre Valley.

The Fund also continues to advance its digital transformation initiatives. In October this year, a new supercomputing cluster is scheduled to be commissioned in the city of Kosshy, increasing the Fund’s computing capacity nearly fourfold.

In addition, the Fund’s portfolio companies are implementing artificial intelligence-based solutions to automate business processes and improve productivity. In particular, the Fund is developing vibe coding—an approach that enables employees to create digital solutions using AI without programming skills, allowing a range of routine business processes to be automated.

Following the meeting, the Prime Minister instructed the management of Samruk-Kazyna JSC to ensure the timely delivery of investment projects, strengthen oversight of implementation schedules, and take additional measures to increase the share of local content in the goods, works and services procured for these projects.