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ASTANA Feb 26 Kazakhstan's sovereign wealth
fund Samruk-Kazyna expects its subsidiaries to borrow
800 billion tenge ($4.3 billion) this year, around half of it on
external markets, Nurlan Rakhmetov, the fund's managing
director, said on Wednesday.
Samruk-Kazyna manages state-run stakes worth a total of
around $100 billion, or roughly half of Kazakhstan's gross
domestic product. The oil-rich nation of 17 million is central
Asia's largest economy.
The fund's subsidiaries include national oil and gas company
KazMunaiGas, Development Bank of Kazakhstan, fixed-line
monopoly Kazakhtelecom, national shipping company
Kazmortransflot, state uranium company Kazatomprom and national
railway company Kazakhstan Temir Zholy.
Speaking at a news conference after the fund's annual
meeting, Rakhmetov gave no details of planned borrowings.
"This is in principle an affordable level of borrowing," he
said. "As we put it today, (the fund's) financial solidity
coefficient ... is within a rather safe range."
Samruk-Kazyna's total portfolio of investment projects to
date is worth around $139 billion, Rakhemtov said.
(Reporting by Raushan Nurshayeva; Writing by Dmitry Solovyov;
Editing by Elaine Hardcastle)