The Board of Directors of Samruk-Kazyna JSC reviewed the Fund’s performance for the first nine months of 2026, including key financial and operational results and measures to support domestic manufacturers. Particular attention was given to the tasks set by President Kassym-Jomart Tokayev in his State of the Nation Address, “Key Priorities for Kazakhstan in a New Historical Cycle”, particularly the need to ensure the timely implementation of major investment projects.

Nurlan Zhakupov, Chairman of the Management Board of the Fund, reported that revenue had increased by 13% and net profit by 19% over the reporting period. Targets for key operational indicators were met.

The Board of Directors was briefed on the progress of 69 major investment projects with a total value of KZT 43.8 trillion. The largest share of investment is directed towards the oil and gas industry, petrochemicals and conventional power generation. Other priority areas include the development of gas transportation and energy infrastructure, transport and communications. Construction and installation works are currently underway on 44 projects, while the remaining projects are at various stages of implementation.

Among the Fund’s key projects launched in October this year was the 380-kilometre fibre-optic communications line connecting Kazakhstan and Azerbaijan. The project will expand international data exchange capabilities and strengthen digital connectivity between the two countries. The Board also noted the Fund’s debut issuance of yuan-denominated bonds worth CNY 3 billion on the Hong Kong Stock Exchange and the Astana International Exchange. This move will broaden the Fund’s access to international capital markets and help attract additional investment into the country’s economy. Another important milestone in developing Kazakhstan’s transport potential was the launch of operations on the new Darbaza–Maktaaral railway line. In October this year, the first freight train carrying Kazakh coal was dispatched to Uzbekistan along the route. The new railway line will significantly increase the capacity of the rail network, boost freight volumes and open up additional export routes for Kazakh products to Central Asian markets.

As part of its efforts to support domestic manufacturers, the Fund’s procurement from Kazakhstani companies amounted to approximately KZT 1.4 trillion in the first nine months of 2026, up 45% compared to the same period last year. Offtake contracts signed during the reporting period totalled KZT 73 billion.

Construction of new social facilities is also underway. A number of major healthcare facilities in Astana, Turkistan and Petropavl are scheduled for completion in 2027–2028. Projects in inclusive sports, rehabilitation, education and culture are also planned.

Following the meeting, the Prime Minister instructed the management of Samruk-Kazyna to ensure the timely implementation of investment projects, strengthen oversight of compliance with established deadlines, and continue efforts to increase the share of local content in goods, works and services procured as part of these projects. He also instructed the Fund to exercise stricter oversight to ensure the timely commissioning of ongoing projects, including new power generation facilities in Turkistan, Kyzylorda, Almaty and Ekibastuz.

Photo: Ukimet