CITIC GROUP intends to send investments to agriculture in Kazakhstan

CITIC GROUP intends to send investments to agriculture in Kazakhstan

CITIC Group is a large state conglomerate engaged in financial and banking activities, insurance, investment in the industrial and construction sectors of the economy, energy, development of Mineral Resources, mechanical engineering, transport and telecommunications, real estate. According to the results of 2022, it took 102nd place in the international ranking of Fortune Global 500 companies. 

Despite the industrial vector of activity, today the company is actively developing the agricultural direction. Plans to build a meat processing plant in Alashankou. At the meeting, the parties discussed the possibilities of investing in agriculture in Kazakhstan.

As Tao Yang noted, the CITIC conglomerate closely cooperates with the Kazakhstan cattle breeding Association.

«Now we are working on a project to create a plant for the production of wheat-based feed in Kazakhstan. In China, there is a great need for such feed. Recently, we met with local partners who are engaged in breeding cows in Usharal. They intend to create a regional company in which the conditions for raising livestock are better than in Xinjiang. However, there is a problem of restricting the export of live animals and meat from Kazakhstan to China», — the head of the conglomerate said.

Serik Zhumangarin noted that the export of meat products from the entire territory of the Republic of Kazakhstan was suspended by the Chinese side due to epizootics. But the authorized bodies of the two countries are now actively working to remove these restrictions.

«It is very important for us to resolve the issue of removing restrictions as soon as possible, Kazakhstan has great opportunities to ensure the supply of meat to China. In March of this year, the World Organization for Animal Health declared five south-eastern regions of Kazakhstan free from smallpox with vaccination», — he said.

The deputy prime minister of Kazakhstan proposed to the president of CITIC CONSTRUCTION to consider several areas of investment related to agriculture. The first is the co-cultivation of plants, forage and animals in the territory adjacent to the Suar. The second is to breed cows and sheep together.

«On the territory of Kazakhstan there is a shortage of fur and fur processing, dairy and poultry production. I propose to consider the possibility of investing in these areas, irrigation projects. The government of the Republic of Kazakhstan is ready to assist in the successful implementation of projects, as CITIC Group is a reliable investment partner of Kazakhstan», — Serik Zhumangarin said.

Projects with the participation of CITIC Group in Kazakhstan:

  1. Karazhanbasmunai JSC is a shareholder of «KMG – «EP «БӨ» JSC (50%) and «CITIC Group» (50%).
  2. Bitumen plant of «JV» «CASPI BITUM of  LLP.
  3.  «CITIC Kazyna Investment Fund I». The fund's investors are «Kazyna Capital Managementt» JSC (49.9%), «CITIC Group» (37,4%) and its subsidiary «Sun Success International Limited» компаниясы (12,5%). Investment management of the fund is carried out on a balance basis.
  4. «Eurasian Nurly Investment Fund» Joint Direct Investment Fund is a project of «Samruk-Kazyna» JSC jointly with «Kazyna Capital Management» JSC with the participation of «CITIC Group» Corporation and a number of other partners.
  5. General contract for the reconstruction of highways on the Taldykorgan – Ust – Kamenogorsk (764 km) and Usharal-Dostyk (180 km) sections.
  6. Deep processing of reservoir water at the karazhanbas field. The aim of the project is the production of desalinated catchment in the amount of 17 thousand cubic meters per day for technological needs, as well as delivery to the needs of the population. The facility was put into operation in Test mode on July 7, 2022.