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Tue June 15 2021

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Atkins signs deal with Kazakh wealth fund

2 Jul 13 Atkins has signed a memorandum of understanding (MOU) with Kazakhstan’s sovereign wealth fund Samruk-Kazyna to establish and develop long-term cooperation in design and implementation of major infrastructure projects.

The agreement was signed during Cameron's visit.
The agreement was signed during Cameron's visit.

Samruk-Kazyna is responsible for some US$78bn (£51bn) of the country’s assets.

The agreement is for an extendable period of 12 months, covering potential projects around the Kazakhistani capital of Astana and the country’s biggest seaport, Aktau. It is focused on the future provision of multidisciplinary design, project management and engineering services.

The MOU was signed yesterday by Prof Dr Uwe Krueger, Atkins’ chief executive officer, and Umirzak Shukeyev, chairman of Samruk-Kazyna’s Management Board. The signing took place during UK Prime Minister David Cameron’s visit to Kazakhstan.

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Krueger said: “We recognise Kazakhstan’s ability and ambition to upgrade its infrastructure network to benefit business and its people and we are exploring ways in which we can support that. The first step is our agreement with sovereign wealth fund Samruk-Kazyna which is responsible for some $78 billion of the country’s assets including energy, transport and telecommunications. This is a developing relationship and we will be assessing how we build on that in the future, in particular around the sustainable growth of Kazakhstan’s most important sectors and infrastructure.”

UK trade and investment minister Lord Green said: "Kazakhstan is emerging as the dominant economy in central Asia and offers many opportunities for British businesses small and large across a wide variety of sectors."

  • Other agreements signed yesterday included an MOU between Dando Drilling International and the Kazakhstan government regarding a joint venture for the local production and assembly of mineral exploration, water well and geotechnical drilling rigs. The MOU is worth US$33 million (£22 million) and will safeguard 50 jobs in the UK and create an additional 20.

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