Kuwait to invest $1.5 billion in Kazakhstan

The Kuwait Investment Authority intends to invest $1.5 billion in Kazakhstan’s grain processing business.

Raimbek Batalov, Chairman of the Presidency of the Atameken National Chamber of Entrepreneurs, stated this on the sidelines of the CICA Business Forum.

“International investors are now contemplating funding projects in cattle breeding, grain production, and processing in Kazakhstan,” Batalov said.

“Kuwaiti Company is exploring a variety of substantial and large grain processing projects in Kazakhstan,” he added.

The Kuwait Investment Authority is thinking about spending $1.5-2 billion on a project [in Kazakhstan]. The first step has already been taken, according to Batalov.

“Foreign investors are also interested in four projects in Kazakhstan for the localization of tower and blade manufacture for renewable energy sources,” he added.

In terms of renewable energy, investments in each production project will total at least $20 million.

“These initiatives are appealing to Kazakhstan. They are 100% genuine. We are evaluating proposals from Central Asian, Chinese, Turkish, and German investors,” Batalov said.