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Privatization in Kazakhstan: Top facilities sold for 61 billion tenge

by March 26, 2018 General

Minister of National Economy Timur Suleimenov shared the prices for top facilities sold in Kazakhstan within the framework of the privatization campaign.

As for top facilities, 21 facilities were planned to be sold, including 19 facilities of national holding companies and 2 state-owned facilities. Of these, 14 were sold, and 7 were put up for IPO via KazMunayGas and Kazakhstan Temir Zholy, � the Minister shared, speaking during the government hour in the Majilis of the Parliament of the Republic of Kazakhstan.

In particular, with regards to state-owned property, two health facilities have been sold: JSC National Scientific Medical Center and JSC KazMedTech. Nine companies were sold in the quasi-public sector. Among their buyers there are large multinational companies that have experience in related fields.

For example, 49% of KTZE-Khorgos Gateway was sold to Shanhai Investment & Development Company Ltd and COSCO Container Lines; 50% of Lokomotiv Khurastyru Zauyty JSC was sold to GE Transportation Engines Holding B.V., this organization is the largest diesel-locomotive building enterprise in the North American continent. 50% of LLP Elektrovoz Khurastyru Zauyty was sold to the large French engineering company Alstom. It is one of the world leaders (along with Bombardier) in the production of power equipment and railway transport, � the Minister said.

He said that the total price for the sale of top facilities amounted to 61 billion tenge, which is 20% more than their book value.

Source: Government of the Republic of Kazakhstan