Kazakhstani Companies Are Building Railroads in Slovakia and a Gold Mining Plant in Kyrgyzstan

Due to the support of KazakhExport Export Insurance Company (a subsidiary of Baiterek Holding), Kazakhstani companies have reached the international level of construction services. This was announced by the Chairman of the Board of “Baiterek” National Managing Holding“ JSC, Aidar Arifkhanov.

“Since 2018, KazakhExport has started activities on stimulating services export. Under its support, domestic companies began entering the international construction services market. For example, they are successfully participating in a bid for the construction of railroads in Slovakia. There, design works are being carried out by Oskemen Design Company, Kazgiprotsvetmet. In December 2018, the domestic company, AAEngineering LLP, entered into the contract for the construction of a gold mining plant at one of the largest deposits in Kyrgyzstan under the support of the Development Bank of Kazakhstan and KazakhExport. The contract amount is 107 million US dollars,” - said Aidar Arifkhanov, speaking at the meeting of the Government of the Republic of Kazakhstan.

According to him, currently the portfolio includes projects for the export of services worth more than 100 billion tenge, design, engineering and technological support of drilling rigs, construction in countries such as Uzbekistan (“Basis A” - 78 billion tenge), Kyrgyzstan (“AAE” - 7 billion tenge), Russia (Omas Integrated LLP - ITS in the amount of 7 billion tenge).

Today, KazakhExport’s support covers more than 80 enterprises in all the regions of Kazakhstan in priority sectors of the economy. For instance, in 2018, KazakhExport provided support in the amount of 90 billion tenge, including 49 billion tenge accounted for enterprises of the agro-industrial complex and the food industry.

In 2018, KazakhExport Export Insurance Company having the capital of 43 billion tenge increased the volume of the existing insurance liabilities to 110 billion tenge, which was 2.5 times higher than the company's own capital. This year, due to capitalization and government guarantee, the insurance capacity will be significantly increased.

Due to the above, this year KazakhExport will provide insurance coverage in the amount of not less than 95 billion tenge; affirmative decisions have already been taken in regard to 15 projects worth more than 16 billion tenge in the first quarter, including 11 enterprises that have not previously been using the support of KazakhExport.