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Sovereign Wealth Fund «Samruk-Kazyna» JSC

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THE FIRST LONG-TERM OFF-take CONTRACTS WITH DOMESTIC PRODUCERS have been signed

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30.11.2018 16:35

The first long-term off-take contracts were signed today in Astana between KEGOC JSC and Asia Trafo LLP, as well as between KazTransOil JSC and KMG Automation LLP.

These projects were initiated by Samruk-Kazyna JSC in order to support domestic manufacturers and boost import substitution. They are implemented as part of the Program to promote the modernization of existing and the creation of new industries.

It should be noted, that in June, 2018, a contract on cooperation was signed between Samruk-Kazyna JSC and Atameken National Chamber of Entrepreneurs (hereinafter – Atameken NCE) in order to systematically support small and medium-sized businesses. The main emphasis of the interaction is in the increase of the competitiveness of domestic manufacturing industry.

The contract assumes that Atameken NCE will find domestic companies that are interested in participating in the program, and the Fund will provide them with guaranteed orders.

“The implementation of these initiatives will stimulate business investment activity in the direction of creating new industries, increasing the number of jobs and tax inflow to the budget,” said Alisher Pirmetov, Managing Director for Operations of Samruk-Kazyna JSC.

Thus, thanks to the provision of the guaranteed long-term orders from Samruk-Kazyna JSC in the amount of almost KZT2 billion, Asia Trafo LLP has established import substituting production of high-voltage equipment. New jobs have been created, a long-term production development program has been established, it is aimed at exporting to the near and far abroad.

Due to the guaranteed off-take contract with the companies of KazMunayGas’ Group, KMG Automation, the new enterprise will receive an order for the production of pressure sensors in the amount of at least KZT250 million. This joint venture will produce pressure sensors based on advanced technologies, which have no analogues in both, Kazakhstan and near abroad countries.

Long-term off-take contracts are the deferred obligations of customers for the purchase of those goods that are imported today in numbers. The pool of products that can be produced in Kazakhstan with the involvement of new technologies is to be identified.

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