The Government of the Republic of Kazakhstan has amended the list of Samruk-Kazyna JSC ("the Fund") assets to be privatised in 2016-2020. The updated list includes four subsidiaries of Kazakhstan Engineering JSC: Kirov Machine-Building Plant JSC; Semipalatinsk Machine-Building Plant JSC; Tynys JSC; and Kazakhstan Aviation Industry LLP, as well as Energia Semirechya LLP, 51% of which belongs to Samruk-Energy JSC. To reflect these changes the corresponding resolution of the Government of the Republic of Kazakhstan dated December 30, 2015 was amended.
In addition, the Government removed the following seven assets from the Fund’s list of assets to be privatised: Militarised Railway Guard JSC; AZPM LLP; Kairat Football Club LLP; Korgan-Kazatomprom LLP; JV Arsenal Mashzavod LLP, JV SKZ Kazatomprom LLP and Ulan JSC.
Dauren Tasmagambetov, Director of the Department of Asset Privatisation and Restructuring, Samruk-Kazyna, commented:
“Samruk-Kazyna and the Government of the Republic of Kazakhstan remain committed to the country's privatisation programme. The Privatisation Project Office is constantly assessing additional suitable privatisation targets, in order to encourage the private sector to take on a leading role in the country's economy where appropriate. In light of this, the Fund has suggested adding four Kazakhstan Engineering subsidiaries and one asset belonging to Samruk-Energy to the list of the companies to be privatised. The decision to remove seven assets from the privatisation programme was motivated by the need to maintain state participation in the companies of strategic or socio-economic importance, or in certain cases because privatisation was no longer considered viable.”
Including the changes introduced as part of the Comprehensive Privatisation Plan for 2016-2020, 215 Samruk-Kazyna assets are planned to be privatised. To date, the Fund has sold 124 of these companies. The remaining assets are scheduled to be sold by the end of 2018, except the Fund's six largest companies, Air Astana, Kazatomprom, Samruk-Energy, KazMunayGas, Kazpost and Kazakhstan Temir Zholy, which are set to be privatised through IPOs, provisionally by 2020, given favourable macroeconomic and market situation.
Kirov Machine-Building Plant JSC produces equipment for the mining, railway, oil, agricultural and defence sectors.
Kazakhstan Aviation Industry LLP manufactures and repairs aviation equipment. The company is implementing a project for the creation of a Technical Aviation Centre in Astana.
Tynys JSC produces medical equipment, manometers, electrical installation products, fire extinguishing tools, polyethylene pipes, geotextiles, gas fittings and aviation products.
Semipalatinsk Machine-Building Plant JSC produces caterpillar tracks and spare parts for tractor haulers, general mechanical engineering products, spare parts for automotive engineering and metal structures.
Energia Semirechya LLP develops wind energy in the Almaty region. 51% of the company belongs to Samruk-Energy JSC.
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