Kazakhstan's authorities are determining how to deal with Russian oil producer Lukoil's stakes in projects and could make a decision soon, the chairman of sovereign wealth fund Samruk Kazyna said on Tuesday.

Kazakhstan state-owned power utility Samruk-Energy and two Chinese companies have agreed to develop two 500 MW wind power plants in Kazakhstan’s Zhetysu Region (Samruk-Kazyna press release,…

Cove KAZ Capital Group is seeking to extend the subsoil use license for the Severny Katpar deposit in the Karaganda region. The site contains tungsten, copper, bismuth, and molybdenum. The Ownership Structure The project is a joint venture: Cove KAZ Capital Group (part of US-based Cove Capital) holds a 70% stake, while the national company Tau-Ken Samruk retains 30%. Tau-Ken Samruk previously owned 100% of the asset. License Status and Timeline The current license expires on November 2, 2027. Alibek Kazbekuly, Country Director of Cove KAZ Capital Group, stated that the company is currently completing environmental approvals and expects to submit the renewal application to the ministry this year. The process was originally initiated by Tau-Ken Samruk in August 2025.

Kazakhstan's authorities are determining how to deal with Russian oil producer Lukoil's stakes in projects and could make a decision soon, the chairman of sovereign wealth fund Samruk Kazyna said on Tuesday.

Cove Kaz Capital Group, a subsidiary of Cove Capital, has signed agreements with Tau-Ken Samruk National Mining Company to progress the development of tungsten deposits in Kazakhstan.

The construction works of a 1 GW wind power plant have started in the Pavlodar region of Kazakhstan (Samruk-Energy press release, 30/03/2026). The USD1.2bn project is being developed by China's State…

For the first time in Central Asia, a neural network has been appointed to the board of directors of a major state fund. The SKAI system (Samruk-Kazyna

Cove Capital will control 70% of the joint venture, while Tau-Ken Samruk will control product marketing, according to a document seen by Reuters

Kazakhstan’s issuance of yuan-denominated debt shows developing nations can use ‘panda bonds’ as stepping stones into global capital markets.

TDM Legal & Regulatory document from our growing collection of laws, treaties, agreements, awards and other primary materials related to commercial and international arbitration.

TDM Legal & Regulatory document from our growing collection of laws, treaties, agreements, awards and other primary materials related to commercial and international arbitration.

thermal power plants (TPPs), citing financing and subsidy challenges for equipment procurement originally expected to be covered by Russian banks, Kursiv reports . At a recent government meeting, officials announced that Kazakhstan will move ahead with building the Kokshetau thermal power plant independently, while a Kazakh-Singaporean consortium, which includes the state-run company Samruk-Energo, will take the lead on the projects in Semey and Ust-Kamenogorsk. Design work is already underway in Kokshetau, with the plant’s capacity slated to increase to 820 Gcal. The launch is scheduled for the first quarter of 2029, and the estimated cost is around 300 billion tenge (approximately $670 million). The plants in Semey and Ust-Kamenogorsk are expected to cost about 400 billion tenge each (roughly $900 million). The initial plan involved a collaboration with Russia, which would have seen Russian banks deliver 15-year loans to support the projects. However, Kazakhstan did not receive confirmation of preferential financing from the Russian side, leading Astana to move forward on its own. Issues in securing the Russian loans and agreeing on interest rate subsidies reportedly contributed to the split. For the Kokshetau power plant, Kazakhstan will rely on domestic resources, while projects in Semey and Ust-Kamenogorsk will be developed through a Kazakh-Singapore consortium involving Samruk-Energo, signaling a clear break from Moscow. “This is an extremely unpleasant and painful blow for Moscow—one that goes beyond three specific projects. Kazakhstan’s rejection sends a message not just to the Kremlin, but across the region, that Russia’s former clout is slipping,” analysts tell Kursiv. It’s a major challenge for Russia’s position in Central Asia. The original agreement for these three power plants was reached during President Putin’s November 2023 visit to Kazakhstan, with Russia’s Inter RAO lined up as the prime contractor. However, Russian banks did not deliver on the promised long-term loans, forcing Astana to look elsewhere. The primary reason: failed financing. Russian banks were supposed to supply 15-year loans for the projects, but complications emerged, leading Kazakhstan to proceed without Moscow’s involvement. The agreement for these projects was originally signed in November 2023 during Russian President Vladimir Putin’s visit to Kazakhstan, with energy ministries from both countries putting their signatures on a memorandum. The initial cost estimate for the venture was $2.7 billion. Russia’s Rosatom has previously been chosen as the main contractor for Kazakhstan’s first nuclear power plant, in a major international consortium. Meanwhile, Russian exporters have been grappling with major slowdowns at the Kazakh border: since mid-June, tighter checks and mounting queues have extended customs clearance times from just one hour to as much as 10 days or more.

According to the Fund’s press release, SKAI represents a breakthrough in corporate governance by combining human decision-making with artificial intelligence. “Setting of an AI-based neural network in the Board of Directors is a quantum leap: technology and people are starting to make decisions together, and digitalization goes beyond processes and becomes part of the management philosophy,” said Samruk-Kazyna Sovereign Wealth Fund’ Chairman of the Management Board Nurlan Zhakupov.

thermal power plants (TPPs), citing financing and subsidy challenges for equipment procurement originally expected to be covered by Russian banks, Kursiv reports . At a recent government meeting, officials announced that Kazakhstan will move ahead with building the Kokshetau thermal power plant independently, while a Kazakh-Singaporean consortium, which includes the state-run company Samruk-Energo, will take the lead on the projects in Semey and Ust-Kamenogorsk. Design work is already underway in Kokshetau, with the plant’s capacity slated to increase to 820 Gcal. The launch is scheduled for the first quarter of 2029, and the estimated cost is around 300 billion tenge (approximately $670 million). The plants in Semey and Ust-Kamenogorsk are expected to cost about 400 billion tenge each (roughly $900 million). The initial plan involved a collaboration with Russia, which would have seen Russian banks deliver 15-year loans to support the projects. However, Kazakhstan did not receive confirmation of preferential financing from the Russian side, leading Astana to move forward on its own. Issues in securing the Russian loans and agreeing on interest rate subsidies reportedly contributed to the split. For the Kokshetau power plant, Kazakhstan will rely on domestic resources, while projects in Semey and Ust-Kamenogorsk will be developed through a Kazakh-Singapore consortium involving Samruk-Energo, signaling a clear break from Moscow. “This is an extremely unpleasant and painful blow for Moscow—one that goes beyond three specific projects. Kazakhstan’s rejection sends a message not just to the Kremlin, but across the region, that Russia’s former clout is slipping,” analysts tell Kursiv. It’s a major challenge for Russia’s position in Central Asia. The original agreement for these three power plants was reached during President Putin’s November 2023 visit to Kazakhstan, with Russia’s Inter RAO lined up as the prime contractor. However, Russian banks did not deliver on the promised long-term loans, forcing Astana to look elsewhere. The primary reason: failed financing. Russian banks were supposed to supply 15-year loans for the projects, but complications emerged, leading Kazakhstan to proceed without Moscow’s involvement. The agreement for these projects was originally signed in November 2023 during Russian President Vladimir Putin’s visit to Kazakhstan, with energy ministries from both countries putting their signatures on a memorandum. The initial cost estimate for the venture was $2.7 billion. Russia’s Rosatom has previously been chosen as the main contractor for Kazakhstan’s first nuclear power plant, in a major international consortium. Meanwhile, Russian exporters have been grappling with major slowdowns at the Kazakh border: since mid-June, tighter checks and mounting queues have extended customs clearance times from just one hour to as much as 10 days or more.

A young woman in a sleek bun and a jacket with Kazakh patterns smiles from the screen at a directors’ meeting of Samruk-Kazyna, Kazakhstan’s sovereign wealth fund. In late 2025, she became the company’s newest board member. Recommended Stories list of 4 items list 1 of 4UK’s Burnham, Canada’s Carney discuss AI risks, defence cooperation list 2 of 4What are the world’s biggest AI companies and how much are they worth? list 3 of 4Israel weaponises AI for West Bank demolitions list 4 of 4Trump says he will create ‘AI Force’ with new ‘AI czar’ end of list But SKAI (or Samruk-Kazyna Artificial Intelligence) is not the first woman to join the all-male board: She is the first artificial intelligence programme with voting rights to support the company’s push for greater transparency and better governance. In Kazakhstan, AI is the new talk of the town, and part of its new branding and modernisation agenda to improve public services, attract investment and diversify the economy beyond reliance on raw materials. President Kassym-Jomart Tokayev declared 2026 the “Year of Digitalisation and Artificial Intelligence” to introduce advanced technologies in all sectors of the economy, develop skills, startups and Kazakh-language technologies. In 2025, the...

In a recent report published by Samruk-Kazyna, the state-owned fund of Kazakhstan, the valuation of a 40% stake in Eurasian Resources Group (ERG) has been set…