Kazakhstan, China created joint fund of investments for financing of projects in non-raw sectors
The constituent documents on creation of the Kazakhstan-Chinese fund of direct investments (CITIC-Kazyna Investment Fund) with total capitalization of $200 million were signed in Beijing on Tuesday during the visit of the chairperson of the board of JSC Company Fund of National Welfare Samruk-Kazyna, Kayrat Kelimbetov, to China, the agency reports citing the official mass media.
Almaty. May 27. Kazakhstan Today - The constituent documents on creation of the Kazakhstan-Chinese fund of direct investments (CITIC-Kazyna Investment Fund) with total capitalization of $200 million were signed in Beijing on Tuesday during the visit of the chairperson of the board of JSC Company Fund of National Welfare Samruk-Kazyna, Kayrat Kelimbetov, to China, the agency reports citing the official mass media.
According to the message, the document was signed by the chairman of the board of JSC Company Kazyna Capital Management (affiliated company of JSC Company Fund of National Welfare Samruk-Kazyna), Abay Alpamysov, and the Managing Director of Chinese CITIC Capital Holdings Limited (affiliated company CITIC Group), Wang Fanglu.
According to A. Alpamysov, the work of the created structure will be directed at financing of the companies realizing infrastructural and other investment projects in non-raw sectors of the economy and having significant potential for development and growth in the territory of Kazakhstan (not less than 50 % of total capitalization of the fund) and China.
According to the reached arrangement between JSC Company Kazyna Capital Management and CITIC Capital Holdings Limited, two additional funds of direct investments with capitalization of $400 million each will be opened in two years after creation of the fund. The investors of these funds will be large institutional and private investors of China and Southeast Asia.
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