Economy News in Brief

Kazatomprom Managing Director Valery Shevelev said a new factory to make wind turbines would be built this year in Kazakhstan. The new wind turbines will be available for private purchasers. He also said the Kazakhstan Government has settled on building a new atomic power station in Aktau, on the Caspian Sea shore. The selection of a partner for building this station will be done through an international tender, he said.

The Kazakhstan Senate has adopted the draft law on ratification of the agreement between the governments of Kazakhstan and Russia on trade and economic cooperation in supplies of oil and oil products to Kazakhstan, Tengrinews.kz reports. “The agreement between the governments of the two countries was signed in Moscow on December 9, 2010. It outlines the trade and economic cooperation in common markets of oil and oil products and terms of oil products supplies to Kazakhstan to meet its domestic needs in the amounts specified in the indicative oil and oil products balances approved by the parties. The essence of the agreement lays in duty-free oil supplies from Russia to Kazakhstan. The protocol will expire on January 1, 2014,” Kazakhstan Oil and Gas Minister Sauat Mynbayev said.

The Fund for the Financial Support of Agriculture said agricultural manufacturers will be able to obtain loans of up to 13 million tenge ($90,000) for cotton production this year. Micro credits will be available for buying fuel and lubricants, seeds, pesticides, mineral fertilizers, materials and equipment, component parts for agricultural machines, leasing equipment, services payments and storing products.

The government of Kazakhstan will provide 450 million tenge ($3 million) in subsidies for seeds this year, Agriculture Minister Assylzhan Mamytbekov said. The funding will address a shortfall of 80,000 tons of seeds this year. The government will continue subsidizing fuel, herbicides and other goods for agricultural producers with 18.9 billion tenge ($126 million) this year.

KazRosGas supplied 4.4 billion cubic metres (bcm) of commercial gas from the Karachaganak field to domestic users in 2012. KazRosGas also exported 872 million cubic metres (mbc) from the field. The joint Kazakhstan-Russian company processed a total of 8.4 bcm of crude gas from the Karachaganak field at its Orenburg Gas-Chemical Plant in Russia near the Kazakhstan border last year.

The city of Almaty generated 305.6 billion tenge ($2 billion) in revenues in 2012, Mayor Akhmetzhan Yessimov told the city’s annual public meeting. The revenues averaged 730,000 tenge ($4,900) per person and confirmed the city’s position as the country’s financial centre, the mayor said. “This is a contribution and a result of efforts by every Almaty citizen. And I would like to thank you for that,” he said. The municipal government of Almaty received 18 percent more in taxes and payments in 2012 than in 2011. The city generates 18 percent of the GDP of the country and 24 percent of the state budget. In 2012, the city produced 521.5 billion tenge ($3.5 billion) worth of goods, 3.3 percent more than in 2011, the mayor said. Retail sales grew by 6.7 percent to a value of 1.3 trillion tenge ($8.5 billion). Almaty was ranked the country’s leading city in its volume of trade.

The government has set a target to generate 1,040 MW of renewable energy by 2020 by building four solar plants, 13 wind power plants and 14 hydropower plants. Media reports said the solar plants would have a total capacity of 77MW.The programme is part of the government’s 2012-2013 action plan to develop alternative and renewable energy sources.

The municipal government of Astana and the VINCI Construction Grands Projets Company of France signed a Memorandum of Mutual Understanding on March 3 to develop public transport services. VINCI will construct three car parks on the Left Bank of the Ishim River starting this year. The. VINCI will also work on construction projects associated with EXPO 2017.


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