Kazakhstan, India expand investment cooperation in energy, pharmaceuticals and high technologies
As part of an official visit to the Republic of India, kazakh Deputy Prime Minister – Minister of Foreign Affairs Murat Nurtleu held a series of meetings with the representatives of leading Indian companies, Kazinform News Agency reports citing the MFA press service.
Namely, Murat Nurtleu met President for Business Development and Corporate Affairs at Tata Sons Private Limited Sucharita Choudhury, Executive Director of the pharmaceutical corporation MSN Group Nikhil Reddy, Chairman of the infrastructure holding Vishwa Samudra Group Sasidhar Chinta, and the leadership of the energy company Greenko Group.
During the meeting with Choudhury, the Kazakh Minister highlighted the potential for cooperation in the fields of energy, automotive manufacturing, fintech, metallurgy, and information technology. He also presented a package of investment incentives available to foreign investors in Kazakhstan, including tax and customs benefits as well as infrastructure support. Discussions covered the localization of auto components, development of the metallurgy sector, eco-friendly transport, and digitalization through platforms such as Astana Hub and Digital Almaty. The Tata Group expressed interest in projects related to energy (including renewables), rare earth metal development, tourism, the steel and food industries, and automotive manufacturing. Tata Power was invited to participate in the development of renewable energy projects in Kazakhstan.
The talks with Reddy focused on the construction of a pharmaceutical plant in the Almaty region in partnership with Medservice Plus, with an investment volume estimated at around 60 million US dollars. The Kazakh Foreign Minister emphasized the importance of achieving 50% localization of pharmaceutical production in the coming years. Support measures were discussed, including long-term contracts, mandatory labeling starting from July 2024, and a “golden visa” of up to 10 years for investors contributing over 300,000 dollars. The sides also considered issues related to technology transfer and the establishment of a full-cycle pharmaceutical production in Kazakhstan.
During the meeting with the Chairman of the Board of Vishwa Samudra Group, the parties discussed the company’s potential involvement in the modernization and expansion of the Aktau International Sea Port in the context of developing the Middle Corridor. Minister Nurtleu emphasized the importance of cooperation with technologically reliable and highly competent partners, expressing Kazakhstan’s readiness to support projects in the fields of transport, port, and digital infrastructure.
The discussion with the leadership of Greenko Group focused on cooperation in the field of renewable energy, including solar and wind power generation, as well as the production of green hydrogen. Both sides expressed interest in combining Kazakhstan’s natural resources with Indian technologies to accelerate the energy transition. The company confirmed its readiness to transfer technologies, establish joint ventures, and expand its presence in the Republic of Kazakhstan.
As a result of the meetings, an agreement was reached to work out specific investment initiatives and provide comprehensive support to Indian companies interested in implementing mutually beneficial projects in Kazakhstan.
Earlier it was reported that Murat Nurtleu participated in the Ministerial Meeting of Central Asia – India Dialogue in New Delhi.
