During President Kassym-Jomart Tokayev’s visit to the UAE, Kazakhstan secured a substantial boost in investments, signing 20 commercial documents worth a staggering $4.85 billion, reports Forbes Kazakhstan.
These agreements, facilitated with the support of the Ministry of Foreign Affairs and JSC “NC Kazakh Invest,” encompass a range of sectors, including green energy, infrastructure, and IT.
The most notable among these agreements is the pact between the Kazakh and UAE governments for the construction of a 1 GW wind power plant in Kazakhstan, backed by the Masdar company, with an estimated project cost of $1.4 billion.
Additionally, Kazakhstan partnered with France’s Total Energies to develop, construct, and operate another 1 GW wind farm in the Zhambyl region.
Kazakhstan Investment Corporation also inked a memorandum of understanding with ADQ, focusing on a strategic partnership to jointly finance venture projects.
Moreover, Kazakhstan Temir Zholy and the Abu Dhabi Ports Group established a joint venture spanning maritime transportation, ports, rail logistics, digitalization, and trading.
Further expanding its renewable energy endeavors, Kazakh Invest entered into a partnership with Emirati company Al Amana Power Solutions, with commitments exceeding $100 million, to initiate renewable energy projects.
All these significant agreements, totaling nearly $5 billion, at the COP28 summit in Dubai mark a pivotal step towards the country’s commitment to green energy and technological advancement.
