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Foreigners Continue Investing in Oil, Gas Production in Kazakhstan

Foreigners Continue Investing in Oil, Gas Production in Kazakhstan

Despite the low oil prices, the lion’s share in the foreign investments made in Kazakh economy accounts for the oil and gas production and geological exploration, read a message from the National Bank of Kazakhstan.

Direct foreign investments in the oil and gas production in Kazakhstan stood at $958.4 million in January-March 2016, while the investments in geological exploration and survey totaled $1.51 billion. During the period, the foreign investments in the metal ore production in the country stood at $137.5 million.

The foreign investments made in Kazakhstan’s processing industry totaled $509 million in the first quarter of 2016, while $522 million was invested in the metallurgical industry and manufacturing of fabricated metal products, except for machinery and equipment.

The foreign investments in Kazakhstan’s construction sector stood at $97.1 million in the first quarter of 2016. The foreign investments in transportation and warehousing in the country totaled $198.9 million.

This is while, $200 million of foreign investments accounted for transportation via pipelines and $416.4 million was invested in communication. Foreign investments in the financial and insurance activities stood at $69.5 million in the first quarter of 2016.

In total, around $4.28 billion was invested in Kazakhstan’s economy in the first quarter of 2016, as compared to $4.37 billion in the same period of 2015.

Source: Trend