ASTANA, Kazakhstan, June 16. Kazakhstan and China’s CITIC Group signed a series of major agreements during the China–Central Asia Forum held in Astana, Trend reports.
The deals form part of a broader package of investment agreements signed at the forum, with total commitments exceeding $24 billion.
As such, Kazakhstan’s national oil and gas company, KazMunayGas, and CITIC Group signed a strategic cooperation agreement aimed at expanding their long-term partnership and jointly developing projects in the oil and gas sector. The agreement marks a new phase in energy collaboration between the two sides.
In the infrastructure sector, the Ministry of Transport of Kazakhstan and CITIC Construction Co. signed a memorandum of cooperation for the implementation of the major "Center–West" transport corridor project. The initiative, valued at $2.78 billion, is expected to significantly improve connectivity across the country and support regional development.
Kazakhstan’s Ministry of Agriculture also inked an agreement with CITIC Construction to cooperate on a large-scale agro-industrial project in the Kostanay region. Under the $1.1 billion project, a wheat deep-processing plant will be constructed with an annual capacity to process up to 1 million tons of grain. The initiative aims to boost value-added agricultural production and support Kazakhstan’s food processing industry.
