Prime Minister Olzhas Bektenov chaired a meeting of the Board of Directors of Samruk-Kazyna JSC. The results of the Fund’s performance for 2025 and issues related to the implementation of priority investment projects were reviewed, primeminister.kz reports.
Chairman of the Management Board Nurlan Zhakupov presented the production and financial results for the reporting period. Gas transportation increased by 9% year-on-year, freight turnover by 5%, and oil and gas condensate production by 3%. Particular attention was given to financial sustainability and investment dynamics. According to 2025 estimates, the Fund’s revenue amounted to 19.1 trillion tenge, EBITDA to 5.4 trillion tenge, and net profit to 2.1 trillion tenge. Assets under management increased to $88 billion, up 9% compared to 2024. The growth was driven by the implementation of investment projects and an increase in net profit.
The Board of Directors also reviewed the progress of the Group’s investment portfolio, which includes 120 projects totaling 52 trillion tenge across priority sectors of the economy, including energy, transport, oil and gas, and others. Project implementation is being carried out in accordance with the instructions of the Head of State. It was noted that in 2025, Fund companies concluded approximately 9,000 contracts with domestic producers totaling about 2.2 trillion tenge (1.1 trillion tenge in 2024), representing a 98% increase. In addition, 363 offtake contracts were signed in 2025 for a total of about 260 billion tenge, 30% higher than the previous year.
In 2025, Samruk-Kazyna JSC completed 10 projects with a total value of 1.1 trillion tenge. These included expansion of CASPI BITUM production capacity to 750,000 tons per year, a desalination plant in Kenderli with a capacity of 50,000 cubic meters per day, construction of second tracks on the Dostyk-Moyynty railway line, as well as projects aimed at developing container infrastructure and localizing industrial production.
In 2026, several strategically significant projects are planned for completion. Their implementation is aimed at developing the country’s energy, transport, digital, and industrial infrastructure, strengthening transit potential, and ensuring sustainable economic growth of the Republic of Kazakhstan.
Nurlan Zhakupov informed the Board members that planned investment expenditures in 2026, which will have a positive impact on GDP growth, will amount to 5.3 trillion tenge (2.7 trillion tenge in 2025 and around 2 trillion tenge in 2024). These funds are allocated for commissioning new capacities, including CHP-2 and CHP-3 in Almaty, the Turkestan CCGT plant, the Trans-Caspian fiber-optic line along the bottom of the Caspian Sea, and other projects.
The Prime Minister instructed the Fund’s management to maintain daily personal oversight over the implementation of major projects.
Projects involving the construction of core infrastructure-energy, transport, and digital-require special control. All facilities must be commissioned within the established deadlines," Olzhas Bektenov emphasized.
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