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Twenty-three agreements worth $545 million signed in Finland following the Head of State’s visit

18 October 2018, 15:07

The official visit of the President of Kazakhstan Nursultan Nazarbayev to the Republic of Finland took place October 16-17. Kazakh Invest National Company organized the Kazakh-Finnish Business Reception, timed to the visit of the Head of State. Following the event, more than 20 commercial and non-commercial documents were signed worth $545 million.

In the course of the Kazakh-Finnish Business Reception, businessmen of the two countries got the opportunity to establish direct contacts and reach concrete agreements. Thus, as part of the reception, 23 bilateral commercial and non-commercial documents were signed for a total of $545 million.

The Government of Kazakhstan and the management of the Northern Investment Bank have concluded a Framework Agreement, which will be used to finance projects in Kazakhstan based on the principle of public-private partnership, as well as investments (investments, corporate and sovereign loans, bank guarantees) and the creation of conditions for technology transfer.

Chairman of the Board of Kazakh Invest Saparbek Tuyakbaev signed a Memorandum of Understanding between Kazakh Invest and Koja regarding the implementation of a project for the production of engineering equipment. A memorandum of understanding and cooperation was also signed between Kazakh Invest and the Confederation of Finnish Industrialists, which includes a number of Finnish companies (Kone Corporation, Wartsila, Stora Enso, Kesko, Nokia Corporation). During the dialogue, the Confederation expressed interest in implementing projects in Kazakhstan.

As part of an agreement on the development of container traffic between JSC KTZh Express and Nurminen Logistics, the parties intend to launch regular transport between Finland and China through the territory of Kazakhstan and Russia in October 2018. This agreement will allow the carriage of containers by rail instead of sea transport and will help reduce the travel time from Finland to China.

The Ministry of Energy of the Republic of Kazakhstan and the Wartsila company signed a memorandum of intent to consider building a 50 MW combined-cycle gas turbine plant in the city of Turkestan. At present, among the projects implemented by the company in Kazakhstan is a power plant for the Aktobe Rail and Structural Steel Plant, which was commissioned in 2015, and a power plant for the KazAzot plant in Mangistau region.

The Confederation of Finnish Industrialists is the leading structure of Finland, which represents all sectors of business and companies. Companies and enterprises of the Confederation produce 70% of GDP and 95% of Finland’s exports. It has 27 sectoral membership organizations uniting 16,000 enterprises and firms with 980,000 people. The board members of the Confederation are heads of companies such as Kesko Corporation, Lappset Group Oy, Kone Corporation, Metsa Group, OP-Pohjola Group, Orion Corporation, Elisa Corporation, Nokia Corporation.

Koja company develops energy-efficient solutions for the creation of ventilation systems with a minimum load on the environment. Today, more than 20,000 Koja fans are used in the world for various industrial purposes. Koja’s equipment is used in the energy sector, the pulp and paper industry, the petrochemical complex, the metallurgical and mining industries.

Nurminen Logistics is a Finnish company that provides high-quality logistics services, including rail transportation services, project cargo transportation, as well as forwarding and cargo handling. The company's network of divisions covers the hubs of Finland and Russia, which are important for logistics along the transit container route. Kazakhstan is included in the company's key markets zone.

The Nordic Investment Bank is the largest financial institution in the Nordic and Baltic countries. The Bank, headquartered in Helsinki, was founded in 1975. The Bank finances projects of interest to member countries both in Northern Europe (investments in infrastructure, the environment, education) and beyond (assistance to partner firms of companies from Northern Europe). The Bank has the right to guarantee and allocate long-term financial resources in excess of its share capital up to 250%.

Wartsila specializes in the production of ship power plants, power plants, screw mechanisms, ship control systems and other equipment. The company was founded in 1834 with headquarters in Helsinki. Currently, the company employs 19,000 employees working in 160 offices in 70 countries. The company's activities are divided into three areas: the production of power plants (34%), ship power plants (26%) and service support (40%).

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