National companies’ subsidiaries to be merged - U.Shukeyev

13:45, 18 November 2015

ASTANA. KAZINFORM - The number of domestic companies will be reduced in Kazakhstan, this statement was made today at the enlarged session of the Government of the Republic of Kazakhstan by Umirzak Shukeyev, head of the National Welfare Fund "Samruk-Kazyna".

According to his words, the group of companies "KazMunayGas" made a decision to reduce the number of its companies from 206 to 75. "Processing and Marketing" including all the refineries and a network of gas stations will be privatized through the sale of 51% shares of JSC "KazMunayGas - Processing and Marketing". In addition, he informed that it was suggested to sell at least 51% of KMG International NV shares. He noted that in the future it was proposed to merge KazTransGas and KazTransOil. Mr. Shukeyev informed that the national company Kazakhstan Temir Zholy will reduce the number of its subsidiaries by three times: from 102 to 32. It is proposed to merge JSC "Locomotive" and "Kaztemirtrans" and sell 75 percent of shares. Kazatomprom company intends to reduce the number of its subsidiaries from 82 to 38.

Government of Kazakhstan President of Kazakhstan Top Story Government President Economy