Kazakhstan, Oman to set up $150 mln fund for joint projects

ASTANA. Oct 6 (Interfax) - Kazakhstan's Samruk-Kazyna state fund and the Oman Investment Authority have signed an agreement to create a joint investment vehicle, Samruk-Kazyna's press service said Tuesday.

The agreement was signed during the state visit of Oman's Sultan Haitham bin Tariq Al Said to Kazakhstan, the press service said.

The fund is to be established with $150 million on a parity basis at the Astana International Financial Centre (AIFC) by the end of 2026, Samruk-Kazyna said.

"The fund will invest in joint projects mainly in Kazakhstan and Oman," it said.

Samruk-Kazyna, Kazakhstan's sovereign wealth fund, was set up in 2008. It manages the country's largest strategic companies, including Air Astana, Kazakhtelecom, Kazatomprom, KazMunayGas and KEGOC.

The Oman Investment Authority (OIA) is the Sultanate of Oman's sovereign fund, responsible for managing the state's investments and assets.

Kazakhstan and Oman signed a package of economic documents during talks between Kazakh President Kassym-Jomart Tokayev and Oman's Sultan Haitham bin Tariq Al Said, the Kazakh presidential press service said.

They include a government-to-government deal on promoting and protecting investments, and an air services agreement.

Samruk-Kazyna and the Oman Investment Authority signed agreements to set up a joint investment fund and on the main terms of the Blue City Rixos joint project.

The two countries' finance ministries signed a memorandum of understanding on financial cooperation. Kazakhstan's Atameken National Chamber of Entrepreneurs and the Chamber of Commerce and Industry of the Sultanate of Oman signed a memorandum of understanding. National oil company KazMunayGas and OQ Exploration & Production agreed to cooperate strategically on geological exploration.

The Eurasian Development Bank and the Omani government also signed an agreement covering the bank's presence in Oman.