Samruk-Kazyna
From Taighde
| Samruk-Kazyna | |
|---|---|
| Country: | Kazakhstan
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| Description: | Sovereign Wealth Fund
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| CEO: | Umirzak Shukeyev
|
| Inception: | October 13, 2008
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| Assets: | $29 billion
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| Website: | http://www.samruk-kazyna.kz/page.php?lang=3
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| Reports | Sovereign Wealth Funds Contact and Information Report |
Samruk-Kazina is Kazakhstan's Sovereign Wealth Fund. It was created in October 2008 to invest in Kazakh based companies to help shore up their finances as a result of the global economic crisis. The fund has $29 billion as of January 2009. The fund was formed by merging Samruk, a government holding company, and Kazina, a government investment and managing company. This fund will be tasked with creating and investing in Kazakhstan companies.
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Investments
The fund has over 500 subsidiaries and independent organizations. Its current major assets include JSC KazTransGaz, JSC Kazakhstan Railway, JSC KazakhTelecom, JSC KazPost, JSC Air Astana, JSC Kegos, JSC KazAtomProm, and JSC Development Bank of Kazakhstan.
According to the CEO, SK will invest $23 billion in 30 industrial projects over the course of the next five years. [1]
Privatization
According to a press conference in December 2009, the fund will sell most of its financial holdings in Kazakh financial institutions within 3-5 years. an interview, Kairat Kelimbetov reiterate that SK would seek out IPOs or complete sales of most financial holdings. He also suggested that SK might bring energy companies to the market. He singled out KazMunayGas.
Funding
Bond sale
Samruk-Kazina will try and raise up to $1 billion during a bond sale abroad. The money will be used on several projects including upgrading some of Kazakhstan's oil refineries, power plants and constructing a new chemical plant.
According to Bloomberg News, in 2013, Samruk-Kazyna may attempt to borrow $6.6 billion to fund investments and acquisitions.[2]
Loan from China
Samruk-Kazyna has received a loan of $1.7 billion from the China Development Bank in February 2011.[3] The loan was announced along with several other loans, including a $5 billion energy infrastructure loan, from various parts of the Chinese government.[4]
Leadership
Umirzak Shukeyev was appointed CEO in December 2011 replacing Timur Kulibayev, who was fired as a response to violent strikes across Kazakhstan.
Tau-Ken Samruk
Tau-Ken Samruk is the metals and mining unit of Samruk-Kazyna. It was formed in 2009 and is responsible for manging and developing the two sectors in Kazakhstan.[5]
