The cumulative volume of direct Russian investments has approached $25 billion, President of Kazakhstan Kassym-Jomart Tokayev said during the plenary session of the XX Forum of Interregional Cooperation between Kazakhstan and Russia, Trend reports.
‘The annual inflow of investments has significantly increased, having doubled to $3 billion at the end of last year. In Kazakhstan, 23 thousand Russian and joint companies are successfully operating, which is almost half of all our enterprises with foreign participation,’ said Kasym-Jomart Tokayev.
He emphasised that cooperation in the fuel and energy sector between Kazakhstan and Russia has reached a qualitatively new level.
‘Together with Lukoil we have started to develop a large offshore field ‘Kalamkas-sea-Khazar’. The volume of investments in the project will amount to more than $6bn. In addition, Russian partners are actively involved in the implementation of projects in the oil and gas chemical industry. Together with Sibur, in 2022 we commissioned the largest polypropylene plant in Central Asia with a capacity of 500,000 tonnes per year. Today, this enterprise not only provides raw materials for Kazakhstani processors, but also exports products to Russia, China, Turkey and other countries,’ Tokayev added.
