Olzhas Bektenov and Head of CITIC Group Xi Guohua discuss joint infrastructure projects implementation rates
Images | primeminister.kz
Prime Minister of Kazakhstan Olzhas Bektenov at a meeting with the Chairman of the Board of Directors of CITIC Group Xi Guohua discussed the implementation of joint Kazakhstan-China projects and strengthening cooperation in energy and industry, primeminister.kz reports.
Currently, with the participation of the Chinese company, large infrastructure projects on reconstruction of motorways of national importance are being implemented. In particular, construction and installation works on 24 sections with a total length of 1,131 kilometres are being carried out on the "Taldykorgan - Ust-Kamenogorsk" and "Karaganda - Balkhash" highways.
To date, on the "Taldykorgan - Ust-Kamenogorsk" route the traffic on the lower layer of the pavement has been opened on 748 km out of 768 km, the balance of works on the upper layer of the pavement is 48%; "Karaganda - Balkhash highway" the traffic on the lower layer of the pavement has been opened on all 363 km, the balance of works on the upper layer of the pavement is 49%.
At the same time, taking into account the ambitious goals for further modernisation of road infrastructure, the parties reviewed the progress of the project to increase the capacity of the plant of CASPI BITUM LLP to 750 thousand tonnes per year. Realisation of this project will cover the demand for bitumen at the height of the construction season.
During the discussion, the participants of the meeting emphasised their readiness to develop cooperation in agriculture, clean energy, environmental protection and digital technologies.
For reference: CITIC Group Corporation was founded in 1979. CITIC Group in Kazakhstan implements projects in energy, chemical industry, finance, infrastructure and other areas.
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EBRD to double its investment in Kazakhstan economy
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Deputy Prime Minister - Minister of National Economy Nurlan Baibazarov had a meeting with Hüseyin Özhan, Acting Managing Director of the European Bank for Reconstruction and Development for Central Asia and Mongolia. The sides discussed the state of the current projects and EBRD’s plans on financing new ones, having noted an important role of investment attracted to ensure sustainable socio-economic development of the country, Kazinform News Agency reports citing the press service of the Kazakh Government.
Hüseyin Özhan said the EBRD planned to double its investment in Kazakhstan in 2024. Together with KEGOC (Kazakhstan Electricity Grip Operating Company), the EBRD is working on a large project which can help ensure power supply reliability in the country’s west.
Previously, the sides agreed on implementation of the largest territorial project - construction of new sewage treatment facilities in the city of Aktobe. Funds were allocated to enhance the capacities of the country’s leading salt producer - JSC Araltuz, as well as to support women and youth entrepreneurship. In June 2024, a new passenger terminal started operating at the Almaty Airport. Its construction was also financed by the EBRD. The EBRD even acquiared a minority stake of 5% of Kazakhstan’s flagship carrier Air Astana.
According to Nurlan Baibazarov, Kazakhstan intends to expand cooperation with the EBRD both at the country and regional levels and supports the EBRD’s aspiration to invest in private sector.
Our country is ready for mutually beneficial work with the EBRD to attract investment for the implementation of energy, transport-logistics, RES and private business projects," the Vice Prime Minister noted.
EBRD has channelled €10.2 billion of investments in 324 projects in Kazakhstan to date. Currently, the EBRD’s portfolio in Kazakhstan includes 121 projects worth €2.9 billion.
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Kazakhstan’s wheat exports to China to hit 2 mln tons
Kazakhstan is ready to increase its wheat exports to China up to 2 million tons, Kazakh President Kassym-Jomart Tokayev said, Kazinform News Agency reports.
The Head of State said the two countries focused on bolstering agriculture cooperation. For example, the parties pay attention to intellectual property, rational use of water resources and deep conversion of farm products.
The President said Kazakhstan is interested in Chinese practice and technology, and joint development of certain investment projects.
In 2023 Kazakhstan’s farm products exports to China doubled compared to 2022 to reach 1 billion US dollars. The sides are also keen to increase the export of high-quality organic meat products, oil-bearing and cereal crops to China.
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Kazakhstan's inflation continues to decline
Inflation in Kazakhstan declined over the year, reaching 8.4 percent in June 2024 (from 8.5 percent in May 2024), Trend reports.
According to data from the country's Bureau of National Statistics, prices for food products climbed by 5.4 percent (5.5 percent in May 2024), for non-food products by 7.4 percent (7.6 percent in May 2024), and for paid services by 13.8 percent (13.9 percent in May 2024).
Among the regions, the highest yearly inflation was registered in the Karaganda region at 10.8 percent, in the Mangystau region at 10.3 percent, and in Astana city at 10.1 percent.
Inflation on a monthly basis did not change compared to May 2024 and amounted to 0.4 percent.
Furthermore, inflation in Kazakhstan slowed down over the year and amounted to 9.8 percent in December 2023 (in November, 10.3 percent).
Prices for food products over the year increased by 8.5 percent (in November 2023, 9.2 percent), for non-food products, by 9.1 percent (in November 2023, 9.9 percent), and for paid services, by 12.4 percent (in November 2023, 12 percent).
The monthly rate of inflation was 0.8 percent (prior month: 1 percent), a slight decline.
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Production of thermal insulation materials in Kazakhstan increased by 58.5%
In January-May 2024, the production of thermal insulation materials increased by 58.5% in physical terms compared to the same period last year. If 26,808 tons of thermal insulation materials were produced in the five months of 2023, then this year - 42,482 tons, press service of the Ministry of Industry and Construction reports.
The increase in production was due to the Akmola and Aktobe regions.
The main manufacturers of thermal insulation materials in the country are the companies PTK Izoterm (East Kazakhstan region), Makinsky Thermal Insulation Plant (Akmola region) and KazTermoGroup (Aktobe region), etc.
Dynamics of the volume of production of thermal insulation materials
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