Kazakhstan and Austria's investments in projects amount to 500 million euros

08:00, 12 June 2013

ASTANA. June 11. KAZINFORM - Kazakhstan and Austria are developing about 11 investment projects worth a total of EUR 500 million. This was on the sidelines of the first meeting of the Kazakh-Austrian Business Council in Astana, said the regional director of «Kaznex invest» JSC Marhabbat Balgabay.

"Over the past year we have achieved considerable success in attracting investment. For example, today we have signed a preliminary memorandum of understanding in the field of sanitary products. «HerzArmaturen» company intends to attract about 20 million euros. With the construction site they are now certain about, but we hope that this year the project will have its own implementation ", said M.Balgabay, answering questions from reporters.

As stated by him Kazakhstan is cooperating with some 50 Austrian companies. "More than half of the companies have gained worldwide fame. We are now developing collaboration with the Austrians in our core sectors such as mechanical engineering, hydropower, renewable energy as a whole, building technologies, projects in the field of waste processing, and tourism " summed up M.Balgabay.

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