BAKU, Azerbaijan, September 10. Kazakhstan and
Abu Dhabi Commercial Bank (ADCB) discussed the participation of UAE
financial institutions in the implementation of major energy and
infrastructure projects in Kazakhstan.


This was announced in a statement by the press service of the
Kazakhstan's Ministry of Energy, following the meeting between
Minister Yerlan Akkenzhenov and an ADCB delegation led by Farooq
Abdulrahman Al Marzooqi, Senior Banker at ADCB and Chairman of the
Board of Directors of ADCB Kazakhstan.


The ministry noted that Kazakhstan and the United Arab Emirates
have established strong partnership relations, with a joint project
with Masdar to build a 1 GW wind farm in Zhambyl Region cited as an
example of cooperation in the energy sector.


During the meeting, the Kazakh side presented key investment
priorities for the energy sector for the next three to five
years.


Among the main areas are the large-scale modernization of 77,500
kilometers of electricity grids, the development of renewable
energy with plans to commission an additional 8.4 GW of capacity by
2035, as well as the development of gas processing infrastructure
at major fields, including Kashagan and Karachaganak.


Particular attention was paid to projects involving higher
value-added production.







In particular, Kazakhstan is constructing a large integrated gas
chemical complex with an annual polyethylene production capacity of
1.25 million tons, as well as projects for the production of
butadiene and alkylate. The sides also discussed plans to further
expand the country's oil refining capacity.


The Ministry of Energy expressed interest in attracting Abu
Dhabi Commercial Bank to support these initiatives.


"Possible mechanisms for cooperation include project financing,
joint credit lines and public-private partnerships. Given the
presence of ADCB Islamic's subsidiary in Kazakhstan, the use of
Islamic financing instruments was also identified as a promising
area of cooperation," the ministry said.


Representatives of ADCB, for their part, reviewed Kazakhstan's
investment plans and opportunities for private capital
participation in the country's energy sector for 2026-2030.


The bank expressed readiness to further study the projects
presented by the Kazakh side in detail, according to the
ministry.