Investment fund of Kazakhstan sold a silicone plant to the affiliate of Samruk -Kazyna

​“Silicone Kazakhstan” LLP was sold to “Tau-Ken Samruk” for 13.6 bln tenge.

The affiliate of Bayterek – JSC Investment fund of Kazakhstan – has sold a 100% package of shares of “Silicone Kazakhstan” LLP to the national mining company “Tau-Ken Samruk” (affiliate of Samruk -Kazyna).

The purchase-and –sale agreement was signed by the chairman of the  Investment fund of Kazakhstan, R. Sisembaev, and chairman of “Tau-Ken Samruk”, M. Turmagametov.

The value of the deal made up 13.6 bln tenge. In conformity with the conditions of the agreement, the amount is paid gradually within 8 years. By today “Tau-Ken Samruk” has made the first payment of 5.3 bln tenge. The full settlement in conformity with the schedule is planned for 2024.

One of the main goals of the Investment fund of Kazakhstan is the sale and recovery of problematic projects and, as a result, the return of investment to the Government that was made into this or that project. We plan to hold the recovery and sale of assets by such a method, one of such companies is the silicon plant in Karaganda, the chairman of the Investment fund of Kazakhstan said.