February 27, 2014 10:41
Samruk-Kazyna to be transformed into a holding company focusing on investment
ASTANA. Feb 27 (Interfax) - Kazakhstan's National Wealth Fund Samruk-Kazyna will be reorganized into a holding company focusing on investment in 2014, Samruk-Kazyna says in a press release.
The new holding company will focus on two areas: first, increasing the revenue generated by the existing assets through improvement of their business processes at all levels and, second, investing the profit in start-up and innovative projects, according to the press release.
To begin with, Samruk-Kazyna will look into its subsidiaries KazMunayGas, Kazakhstan Temir Zholy and KazPost, where all business processes will be analyzed and assessed in order to find solutions aimed to increase their revenue, said Samruk-Kazyna CEO Umirzak Shukeyev.
Samruk-Kazyna will seek external borrowings so that up to 70% of each project could be financed from borrowed funds, Shukeyev said.
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