Qazaqstan Investment Corporation JSC invests in "Construction of a gas chemical complex for the production of methanol in the West Kazakhstan region"

Qazaqstan Investment Corporation JSC (subsidiary of Baiterek NMH JSC) through the private equity fund Baiterek Investment Fund, has financed the project “Construction of a gas chemical complex for methanol production in the West Kazakhstan region” by Zhaik Petroleum Ltd in the amount of 9.2 billion tenge, with a total project cost of about 78.8 billion tenge.

The project provides for the creation of the largest gas chemical complex in Kazakhstan using modern technologies. The project is being implemented jointly with Chinese partners — XINJIANG SANBAO INDUSTRY GROUP CO. Ltd., which will act as a technology partner in the construction of the complex.

Kazakhstan possesses substantial natural gas reserves, which are currently exported mainly without processing. Methanol production will make it possible to convert this raw material into high value-added products and expand exports to the markets of China and the European Union.

Methanol is an important raw material for modern chemical industries and is widely used across various sectors of production. The production capacity of the gas chemical complex will be 130 thousand tons of methanol per year.

The project is included in the Unified Industrialization Map of the Republic of Kazakhstan and is aimed at import substitution of methanol production in the country, given its high export potential.

The commissioning of the new gas chemical complex is planned for 2027. The implementation of the project will increase the volume of production in the manufacturing industry of the West Kazakhstan region by 10%.

In addition, as a result of the project, up to 467 new jobs will be created, which will have a positive impact on the socio-economic development of the region.

As part of the project implementation, a Memorandum of Understanding at the level of the participating countries was signed on the sidelines of the 8th meeting of the Kazakhstan-China Business Council in Beijing (PRC) on September 2, 2025, during the visit of the Head of State to the PRC.

The project is being implemented within the framework of the Investment Agreement between the Government of the Republic of Kazakhstan and Zhaik Petroleum Ltd LLP, approved by the Decree of the Government of the Republic of Kazakhstan dated December 31, 2024.

For reference:

Qazaqstan Investment Corporation JSC is a private equity fund of funds established in 2007, whose primary mission is to promote Kazakhstan’s sustainable economic growth by attracting direct investments and supporting projects that contribute to the modernization and enhanced competitiveness of key industries. It is a subsidiary of Baiterek NMH JSC. See additional information on the website https://qic.kz/ru .

Baiterek Investment Fund is a subsidiary of Qazaqstan Investment Corporation, a captive private equity fund established in 2024, with the aim of financing projects in the priority sectors of the economy.

XINJIANG SANBAO INDUSTRY GROUP CO., Ltd. is one of China's leading foreign trade enterprises engaged in manufacturing, processing, logistics, tourism and trade, as well as contract services in the field of construction abroad.