Kazakhstan: Astana Seeks to Expand Government Role in Key Economic Sectors

Kazakhstan is preparing to establish national mining and chemical companies, Interfax-Kazakhstan reports.

The mining company, which will manage the government's shares in existing projects, will also incorporate the national nuclear company Kazatomprom, Kairat Kelimbetov, the head of the newly created national welfare fund, Samruk-Kazyna, said on December 10.

"The formation of the mining company is very simple. It will have the status of a national company. We have drafted the regulation, and as soon as the government approves it, the mining company will be created," Kelimbetov said, adding he expected the measure to be approved December 16.

The government will form a limited liability partnership (LLP) to cooperate with the chemical sector, he continued.

"The government has no state assets in the chemical industry, unlike in the mining sector, so the government will establish a LLP to cooperate with private market players. We are planning to discuss two ways of government participation, it will be either a shareholding in a newly established company, or lending," Kelimbetov said.

Eleven chemical projects worth roughly $3.7 billion are already in the works, he added.
Samruk-Kazyna was formed in October to manage strategic state assets valued at $40 billion. Its deputy head is President Nursultan Nazarbayev's son-in-law, Timur Kulibayev.