Qataris want to produce milk in Kazakhstan and sell it to China

A tripartite memorandum of understanding was signed by Qatar's Power International Holding, China's China International Capital Corporation and Kazakhstan's Baiterek Holding. The parties agreed to invest in Kazakhstan in agriculture, World of NAN reports citing the holding.

The agreement envisages the creation of a direct investment fund in Kazakhstan with the participation of Qatari and Chinese companies for the development of a dairy cluster, including the production, processing and export of dairy products.

Chinese partners China International Capital Corporation (CICC) will ensure the participation of their large dairy enterprises at the level of providing offtake contracts and assistance in the sale of Kazakh products in the Chinese market.

Qatari partners Power International Holding, represented by its subsidiary Baladna, will act as a technology partner in an effort to make the fund one of the ten largest dairy processors in the world.

"For Qatar, Kazakhstan is of interest as an economy with the potential to enter the Chinese market. For Kazakhstan, this means attracting long-term investments and developing the agro-industrial complex. The Chinese side, attaching great importance to the quality of products produced in Kazakhstan, is interested in such products supplied from Kazakh fields to the trade shelves in China", - said the director of the department of the national holding Aset Tazhikenov.

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