DUSHANBE, October 4, Asia-Plus — A Kazakh representative delegation comprising representatives from KazInvestMineral, ATF Bank and Kazakhstan Investment Fund led by the Fund’s head Zeinulla Kakimzhanov will arrive in Tajikistan on October 8 for a four-day working visit.
According to the Kazakh Embassy in Dushanbe, during their stay in Tajikistan top managers of Kazakhstan Investment Fund intend to hold talks with senior representatives from Tajikistan’s government, ministries and organizations to discuss cooperation in the fields of mining, energy, agrarian and financial sectors.
The Kazakhstan Investment Fund is one of the state institutes of development of Kazakhstan. The Fund”s activities began in July 2003. The form of incorporation is a joint stock company with the government 100% share interest in the authorized capital. The authorized capital volume is more than US$ 300 million; its step-by-step increase is planned in future. The Fund provides financial support to the private sector”s initiatives in establishment of competitive industries in the non-primary sector of the economy by way of participation in the authorized capitals of newly established and operating organizations.
Representatives from ATF Bank are scheduled to hold talks in Tajikistan on purchasing shares of local commercials bank SohibkorBonk.
Founded in 1995, ATF Bank is universal financial institution and one of leaders of banking system in Kazakhstan. Over the past eleven years of its operation ATF Bank has changed into powerful financial group of companies. This group offers a broad specter of financial products, including services in leasing and insurance.
A source in the Kazakh Embassy said Kazakhstan Investment Fund had prepared a package of documents on further expansion of cooperation with Tajikistan, which will be submitted for consideration to the Tajik side during the visit.
According to the source, representatives from KazInvestMineral, which is the main partner of the Kazakhstan Investment Fund, intend to visit the Adrasman Ore Refinery in northern Tajikistan, which the company purchased in July for 12 million somonis (equivalent to more than US$3.5 million). The plant was put for sale for 11 million somonis because its technology is obsolete and demands urgent replacement.
The Tajik Ministry of Industry said KazInvestMineral intends to pay starting fee of US$100,000 and to spend at least 15 million US dollars for the reconstruction of the plant, and updating its technology and mining equipment. In the course of the talks with Tajik officials the KazInvestMineral representatives will present a plan of reconstruction of the Adrasman Ore Refinery, according to the source. He added that after the reconstruction, the production capacity of plant will be 650,000 tons of lead ore per year.
The Adrasman Ore Refinery was established in 1967, and specializes in the production of lead ore and the processing of raw materials for making lead-silver concentrate.
