Kazakhstan is getting ready to privatize the biggest metallurgic, oil and gas, telecommunication and transport enterprises, because of reduction of oil and metal prices and further devaluation of the national currency, reported Reuters quoting two sources close to the government. The journalists of the agency have a list of 60 companies.
Among them are Luxemburg-based Eurasian Resources Group (ERG), which is owned by the Kazakhstan government with 40% share as well as by Alexander Mashkevich, Alijan Ibragimov and Patokh Shodiyev.
The owners of Kazakhzink are Glencore International AG (70,0313%) and national mining company Tau-Ken Samruk (29,9687%).
The national air carrier Air Astana is owned by Samruk Kazyna (51%) and BAE System ( 49%).
Kazakhtelecom is owned by Samruk Kazyna (51%), BODAM B.V. (16.87%), BNY Mellon ( – 9.81%) and Deran Services B.V. (7.6%).
Early October Kazakhstan President Nursultan Nazarbayev said that the country is going to privatize companies to ensure “more efficient management.”
“The country has been operating in a strict regime and because of reduction of prices for energy carriers, proceeds to the budget decreased by 40%. Kazakhstan is going to have a more serious crisis, than the one occurred between 2007 and 2009,” Nazarbayev said.
Kazakhstan President announced new privatization in December 2014 at the session of the Council of Foreign Investors. He urged the investors to take part in privatization of 700 Kazakh companies, including health and education organizations.
