"Baiterek" Holding expands investment cooperation with China

On July 16, as part of the official visit of the President of the Republic of Kazakhstan, Kassym-Jomart Tokayev, to China, subsidiaries of JSC "National Managing Holding "Baiterek""—JSC "Development Bank of Kazakhstan" (DBK) and JSC "Industry Development Fund"—signed a number of strategically important agreements aimed at attracting investment, strengthening industrial cooperation, implementing infrastructure and manufacturing projects, and expanding access to international capital markets.

One of the key outcomes of the visit was the strengthening of the position of JSC "Development Bank of Kazakhstan" in the Chinese financial market. Following a series of meetings in Shanghai, the Bank signed several agreements designed to enhance cooperation with China's leading financial institutions and industrial companies.

In particular, DBK signed an agreement with China Central Depository & Clearing Co., Ltd. (CCDC) for the provision of issuer services related to Free Trade Zone (FTZ) Offshore Bonds. The agreement provides the Bank with access to additional liquidity in China's capital market, expands its financing opportunities, and supports DBK's long-term presence in one of the world's largest financial markets.

In addition, DBK signed an agreement with China Development Bank to secure financing for the construction of a 75 MW combined-cycle gas turbine (CCGT) power plant in the city of Zhezkazgan, a memorandum on financing a 1,000 MW wind power project with an energy storage system in Kostanay Region, as well as a number of documents supporting the implementation of investment projects in the metallurgy and agro-industrial sectors.

Another major outcome of the visit was the signing of a strategic agreement on the establishment of the National Agricultural Machinery Manufacturing Cluster of the Republic of Kazakhstan between JSC "Industry Development Fund", JSC "Agromashholding KZ", and Weichai Lovol Intelligent Technology Co.

The agreement provides for the establishment of a modern agricultural machinery manufacturing complex in the city of Kostanay to produce LOVOL-branded agricultural equipment, accompanied by the transfer of advanced engineering technologies, production standards, licenses, and patents. The Industry Development Fund will provide comprehensive support for the project, including financing the construction of the plant, the acquisition of equipment, and the installation of production lines.

The plant is expected to have an annual production capacity of up to 1,000 combine harvesters. The project will increase the localization of agricultural machinery manufacturing in Kazakhstan, strengthen the country's industrial capacity, meet domestic demand for modern agricultural equipment, and create an export-oriented manufacturing base.

The signed agreements reaffirm the consistent efforts of JSC "National Managing Holding "Baiterek"" to attract long-term investment, expand industrial cooperation with international partners, and create new drivers of economic growth in line with Kazakhstan's strategic objectives for economic diversification.