Business news in brief

SES Saran, a 100-megawatt capacity solar power plant in Saran in the Karaganda region, will begin operating in November, reported Approximately 370,000 photovoltaic solar panels will be installed throughout 160 hectares for an estimated annual electricity generation of 145 million kilowatts per hour. Construction of Central Asia’s largest solar power plant began in June 2017 with $340 million in private foreign investment. An initiative of companies from several European Union (EU) countries, the main project partners include France’s Schneider Electric and Germany’s Grass Engineering. State support includes the guaranteed purchase of the generated power at a fixed price.

Almaty is attracting 11 investment projects with $414.8 million in international investment. In the first half of 2018, investment into the city was approximately $851 million, 22.7 percent more than in the previous year. The projects will centre on manufacturing and trade, creating more than 3,000 jobs. Project include a $100 million Chinese company producing welded pipes, a $20.3 million Russian firm manufacturing cabling and wiring products and $44 million with Eurabus, a German company assembling electric buses. A Japanese engineering systems plant and French construction materials hypermarket, Leroy Merlin, are already operating.

Twenty-two companies with Kazakh capital were registered in Turkey in June, 11 more than in June 2017, reported The companies provided 1.8 million lira (US$295,318) in capital compared to 460,000 lira (US$75,470) the previous year. In June alone, 11,681 companies registered and 2,671 companies closed in Turkey.

Kazakhstan Railways (KTZ) cargo turnover in January-June was 106.5 billion tonne-kilometres, 9 percent higher than the previous year, reported the KTZ press service. Cargo turnover will reach the 219 billion tonne-kilometre level through the end of the year, according to KTZ management board president Kanat Alpysbayev. Rail transit increased by 23 percent in the first half of 2018 and transit container traffic was 206,600 twenty-foot equivalent units, up 39.5 percent over the previous year. Approximately 26 percent of KTZ’s revenue stems from transit traffic, which represents 14 percent of cargo turnover.

The Kazakh Ministry of National Economy has developed a series of legislative amendments on trade regulation, reported In particular, norms on e-commerce were advanced to raise the level of consumer trust and stimulate online purchases. When selling goods, all information on the cost, characteristics, payment method, delivery and seller must be made available on the seller’s official Internet resource and/or on the e-commerce intermediary in Kazakh and Russian. Information on food products must contain their composition, nutritional value, conditions for use and storage, weight, preparation method, date and place of manufacture and packing and contraindications for their consumption in the case of certain diseases.

Kashagan, Karachaganak and Tengiz, Kazakhstan’s three major oil and gas projects, will undergo expansion, said a KazEnergy association representative. By 2024, Kashagan’s expansion will increase annual production from 13 million to 16 million tonnes. Approximately $570 million in social and infrastructure development has been invested in the region since the project was implemented in 1998. Through 2020, project investment in the Karachaganak field will exceed $1.5 billion, focusing on facility modernisation and compressor and pipeline construction. After 2022, annual oil production in Tengiz will hike from 27 million to 39 million tonnes, likely increasing the number of oilfield workers from the current 30,000.

Get The Astana Times stories sent directly to you! Sign up via the website or subscribe to our Twitter, Facebook, Instagram, Telegram, YouTube and Tiktok!