Kazakhstan and Romania set up investment fund with $ 1 bln total capitalization
ASTANA. May 13. KAZINFORM - Kazakhstan and Romania have created a joint investment fund with a total capitalization of USD 1 billion, the press service of the Ministry of Foreign Affairs reports.
The investment fund will strengthen the strategic partnership between Kazakhstan and Romania and ensure the Kazakhstani energy resources consumption growth in the region of the Black Sea and the European Union.
"The Romanian Government approved the final terms of Rompetrol Company’s debt settlement. Under the agreement Rompetrol is to buy the Government’s shares in the oil refineries of Romania. The bill draft was sent to the Parliament for ratification. A key foundation of the transaction was the creation of an investment fund of the two countries", the statement reads.
"Speaking on the occasion of the approval of the agreements with Rompetrol, Victor Ponta, the Romanian Prime Minister, said that their main interest lay in the fact that Romania had to remain an important country for Kazakhstan, a strategic partner of "KazMunayGas" JSC”, reports the Ministry of Foreign Affairs.
The total investment of Rompetrol, owned by KazMunayGas JSC in the period of 2007-2012, exceeded USD 2 billion.