In Mangistau in the framework of the business forum “Russia-Kazakhstan” was signed Memorandum on $ 1 billion

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Today at the Business Forum “Russia-Kazakhstan”, which takes place in the framework of “EXPO-2017”, the akimat of Mangystau region have signed a Memorandum of cooperation with the Malaysian company Reach-Energy Berhard. The agreement was signed by the akim of Mangystau region Yeraly Tugzhanov and CEO of Reach-Energy Shahul Hamid Mohd.

The company Reach-Energy Berhard will support the involvement of Malaysian companies to invest in Mangystau oblast. The oil and gas industry, infrastructure projects, construction, electricity, water supply and tourism are the priority areas of the region in which the company plans to attract from $ 500 million to $ 1 billion. In turn akimat of Mangistau region will provide support in matters of investment protection, will cooperate with the company in different directions.

Company Reach-54 Energy develops oil and gas wells, 2026году their number will increase to 88. In support of Mangistau in the development of gas processing and petroleum industries company plans to build a plant for the production of methanol and power.

– The signing of today’s MOU is another milestone in relations between the two countries, which will contribute to socio-economic development of Kazakhstan and Malaysia. Today there are more than 90 delegates from our country, I think we’ll make even more mutually beneficial agreements, – said Deputy Minister of international trade and industry of Malaysia Ahmad Haji Maslan