Veolia, Kazyna Capital Sign MoU For Seawater Desalination Plant In Kazakhstan

(RTTNews) - French resource management firm Veolia Environnement (VE) Tuesday said its unit Veolia Water Solutions & Technologies signed a memorandum of understanding with Kazyna Capital Management to jointly implement a seawater desalination plant in Kazakhstan.

The signing of the MoU was during the state visit to France of Kazakhstan President Nursultan Nazarbayev on November 5.

Located in Aktau, the new 125,000 m3 per day plant will supply water to industries and the population of Aktau and Zhanaozen, the two main cities in the oil province of the Manghystau, located on the shores of the Caspian Sea.

Veolia said the memorandum follows its study conducted in partnership with the Kazakhstan Public-Private Partnership Centre, on behalf of the Manghystau region and was supported by French authorities. The study was to define a business model allowing for private sector participation in the implementation of this desalination project.

Kazyna Capital, a unit of Kazakh public fund company Baiterek National Holding, provides equity capital to companies at various stages of growth through private equity funds and jointly with other investors in order to promote sustainable development of the Kazakh national economy.