23 January 2018, Astana. Samruk-Kazyna JSC held a meeting with the participation of the heads of the largest portfolio companies following the official visit of Kazakh President Nursultan Nazarbayev to the United States and further transformation of the Fund.
During the visit, representatives of Samruk-Kazyna JSC signed seven documents, including:
1. The strategic agreement in the field of industrial Internet and industrial data analytics between Samruk-Kazyna JSC and GE Digital International LLC. The agreement provides for the joint assessment of GE digital solutions based on the Predix platform in five portfolio companies (NC KazMunayGas JSC, Kazakhstan Temir Zholy JSC, KEGOC JSC, Samruk-Energy JSC, NAC Kazatomprom JSC), which will increase their efficiency through the introduction of digital technologies.
2. The memorandum of understanding between Air Astana and International Aero Engines (USA) implies the intention to conclude a contract for the Airbus NEO engines maintenance in the future.
3. The contract for the supply of aircrafts between Air Astana and Air Lease Corporation (USA) involves the operational leasing of 10 Airbus NEO type aircrafts.
4. The agreement on the purchase of shunter locomotives between KTZ-Freight Transportation JSC and General Electric Kazakhstan LLP assumes the renewal of the fleet due to the write-off of shunter locomotives.
5. W.R.Grace, KazMunaiGas and the United Chemical Company signed the framework agreement on a joint venture for the production of catalysts in Kazakhstan.
6. The agreements were reached between KTZ-Freight Transportation JSC, GE International Inc and Kamkor Locomotive LLP on maintenance of TEM33 diesel locomotives, NC KTZ JSC, John Deere and DHL on the organization of goods transportation by John Deere.
Akhmetzhan Yessimov, CEO of Samruk-Kazyna JSC, noted:
"All agreements must be well drafted and fully implemented. The heads of national companies bear personal responsibility for this.”
During the meeting, the issues of the Fund’s further transformation were also discussed. Nurlan Rakhmetov, Managing Director for Transformation, Privatisation and Restructuring of Samruk-Kazyna JSC, informed about the main financial indicators, stressing that the key figures on the Fund’s group of companies profitability and the value of assets were determined.
Mr Yessimov resumed:
“Recently we have changed Samruk-Kazyna’s structure. These changes are aimed at increasing efficiency, this effort will be continued. With regard to the transformation, three years have passed since its launch and we must have a constant, clear picture of the progress made and what results we want to achieve at each stage.”The Fund’s portfolio companies were given detailed instructions.