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Kazakhstan's $4.85 Billion Investment Drive at COP28



At the COP28 climate summit in Dubai, Kazakhstan signed 20 agreements with international partners, totaling $4.85 billion.  These agreements focus on green energy, infrastructure, and digitization, highlighting Kazakhstan's commitment to sustainable development and its goal of achieving carbon neutrality by 2060.  


A significant portion of the investment is directed towards renewable energy projects.  Notably, the UAE's Masdar will lead the construction of a 1 GW wind power station in northern Kazakhstan, a project valued at $1.4 billion.  Additionally, France's TotalEnergies plans to develop a 1 GW wind farm in the Zhambyl region, incorporating a 600 MWh battery storage system to ensure a stable power supply.  


Furthering its renewable energy initiatives, Kazakhstan's Samruk-Kazyna Sovereign Wealth Fund has partnered with Saudi Arabia's ACWA Power to develop a 1 GW wind power project in the Zhetysu region, which will include an energy storage system.  These projects collectively aim to add 3 GW of wind energy capacity to Kazakhstan's power grid.  


Beyond energy, Kazakhstan is enhancing its infrastructure and digital capabilities.  Kazakhstan Temir Zholy, the national railway company, and Abu Dhabi Ports Group have agreed to collaborate on maritime transportation, port development, railway logistics, digitization, and trade.  This partnership aims to transform the ports of Aktau and Kuryk into leading maritime hubs on the Caspian Sea.  


In the realm of digitization, Samruk-Kazyna and Presight.AI plan to establish a joint venture to implement big data analytics solutions across various sectors, including energy, public services, and transport.  They also intend to explore the development of high-performance computing capacity and enterprise AI solutions in Kazakhstan.  


These comprehensive agreements underscore Kazakhstan's strategic approach to sustainable development, combining renewable energy expansion with infrastructure modernization and digital transformation.  By fostering international collaborations, Kazakhstan is positioning itself as a proactive player in addressing global climate challenges and advancing its economic growth.

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