China's CRCC to invest over $100 mln in projects in Kazakhstan

ALMATY. June 28 (Interfax) - Chinese Railway Construction Corporation (CRCC) is ready to expand its activities in Kazakhstan and invest over $100 million in projects, the press service for Kazakh Invest said.

It is expected that the projects in Kazakhstan will be implemented by CRCC subsidiaries CRCC International Investment Group and China Civil Engineering and Construction Corporation (CCECC).

Chinese partners have said that they are ready to invest over $100 million in projects in Kazakhstan and relocate the regional office of CRCC International Investment Group from Russia to Kazakhstan, the press service said.

"We are working on four projects in Kazakhstan as a contracting company, and we are ready to implement new projects as an investor through our investment business unit," Lianjun Fang, the general manager of CCECC Central Asia Branch, was quoted as saying.

In particular, the company is interested in launching projects in economic sectors such as agriculture, industrial production, mining and metals, real estate, transport, and warehousing and distribution.

Kazakh Invest is a national investment agency with a mission to promote non-commodity exports and attract foreign investors.