IDB will finance Kazakhstan projects worth 1 bln USD

As part of the implementation of the country strategy together with Kazakhstan, in 2012-2014 the Islamic Development Bank may finance projects worth 1 billion USD.

In the interview to the Kazakh TV channel the vice president on finance Abdulaziz Al-Hinai has announced that at the beginning of October in Astana the Islamic Development Bank will sign a new country strategy of the bank in Kazakhstan. He hasn’t told about the document in details and just announced that the sides are still discussing some issues of the strategy. In his turn, at the meeting in Almaty the deputy minister of industry and new technologies Bakhytzhan Dzhaksaliyev noted that in the nearest 2 years the IDB will finance projects worth to 1 billion US dollars in Kazakhstan.

Article sourced from CaspioNet


2013 production of crude and condensed gas forecasted at 82 million tons

Production of crude and condensed gas in Kazakhstan in 2013 is forecasted at 82 million tons, with the figure augmented up to 90 million tons in 2015, reports, citing the country’s Ministry of Economic Development and Trade.

In 2011 Kazakhstan produced 80 million tons of crude and condensed gas; plans are there to produce 81 million tons this year. The draft 2013-2015 budget is based on Brent oil standing at $90 per barrel in 2013, $89 in 2014 and $88 in 2015.

The average year price in 2012 is forecasted at $100 per barrel.

Earlier reported, citing KazMunaiGas National Oil and Gas Company’s chairman of the Board Mr. Lyazzat Kiilov as saying in a recent interview for Kazakhstan’s Liter newspaper, that the overall carrying capacity of Kazakhstan’s export oil pipelines is to be augmented 1.5 times up to 100 million tons by 2020.

“The current demand for export oil pipelines is almost met. However, the plans to boost oil production will call for both expansion of the already operating pipelines and construction of new ones. The current carrying capacities of all the Kazakhstan’s export oil pipelines stand at 66 million tons a year; the figure is to be brought up to 100 million tons a year by 2020”, he elaborated.

Article sourced from Tengri News

S Korean business to help develop Kazakhstan’s economy

South Korean businessmen will play an active role in the development of Kazakhstani economy.

The news came after the meeting of President Nursultan Nazarbayev with his South Korean colleague Lee Myung-bak on Thursday in Akorda Presidential Residence.

“We highly estimate the results of today’s negotiations. This year Kazakhstan and South Korea mark 20 years of diplomatic relations. Today we have discussed important issues in the sphere of international security, regional stability and touched upon the nuclear disarmament and non-proliferation,” President Nazarbayev said.

According to the Kazakh Leader, the sides also debated the ways on overcoming the world crisis.

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