PM Bektenov urges Samruk-Kazyna management to ensure timely project delivery
Kazakhstan’s Prime Minister Olzhas Bektenov chaired a meeting of the Board of Directors of Samruk-Kazyna Sovereign Wealth Fund, during which the Fund's performance for the first nine months of 2026, including key financial and production indicators, as well as measures to support domestic manufacturers, Qazinform News Agency cites the press service of the Kazakh Government.
The meeting placed particular attention to the tasks set by President Kassym-Jomart Tokayev in his state-of-the-nation address, “Kazakhstan’s Current Priorities in a New Historical Cycle,” regarding the timely implementation of major investment projects.
During the meeting, Fund Chairman Nurlan Zhakupov reported that revenue had increased by 13% over the reporting period, while net profit had grown by 19%. The Fund also met its targets for key production indicators.
The Board of Directors reviewed the progress of 69 major investment projects with a combined value of 43.8 trillion tenge. The largest share of investments is directed towards the oil and gas industry, petrochemicals and conventional power generation. Other areas include gas transportation and energy infrastructure, transport and communications.
Construction and installation works are currently underway on 44 projects, while the remaining initiatives are at different stages of implementation.
Among the Fund's key achievements was the launch in October 2026 of a 380-kilometre fiber-optic communication line connecting Kazakhstan and Azerbaijan. The project is expected to expand international data exchange capabilities and strengthen digital connectivity between the two countries.
The Fund also made its debut issuance of yuan-denominated bonds, placing securities worth 3 billion yuan on the Hong Kong Stock Exchange and the Astana International Exchange. The move is expected to broaden access to international capital markets and attract additional investment into Kazakhstan's economy.
Another important milestone in developing the country's transport potential was the launch of operations on the new Darbaza-Maktaaral railway line. In October 2026, the first freight train carrying Kazakhstani coal was dispatched to Uzbekistan along the route. The new railway is expected to significantly increase the capacity of the national rail network, expand freight volumes and create additional export routes for Kazakhstani products to Central Asian markets.
As part of efforts to support domestic manufacturers, the Fund's procurement from Kazakhstani companies reached approximately 1.4 trillion tenge in the first nine months of 2026, representing a 45% increase compared with the same period last year. Offtake contracts totaled 73 billion tenge during the reporting period.
The Fund is also continuing construction of new social infrastructure facilities. Several major healthcare projects in Astana, Turkistan and Petropavl are scheduled for completion in 2027-2028. Additional initiatives are being implemented in inclusive sports, rehabilitation, education and culture.
Following the meeting, Prime Minister Bektenov criticized the management of the Fund and its subsidiaries over cases of missed deadlines for investment projects. He instructed them to strengthen oversight of project schedules and continue increasing the share of local content in goods, works and services procured as part of their implementation.
The Prime Minister also ordered enhanced monitoring of the timely commissioning of ongoing projects, particularly new power generation facilities in Turkistan, Kyzylorda, Almaty and Ekibastuz, as well as the construction of gas processing plants.
Earlier, Qazinform reported President Tokayev had been briefed on Samruk‑Kazyna’s operations and investment projects.
