Baiterek Venture Fund JSC signed a memorandum with XINJIANG SANBAO INDUSTRY GROUP CO., Ltd. and Zhaik Petroleum Ltd. LLP as part of the “Construction of Gas Chemical Complex for Methanol Production in West Kazakhstan Region” project

As part of the Shanghai Cooperation Organization Summit on September 2, 2025, in Beijing (PRC), the 8th meeting of the Kazakhstan-China Business Council was held attended by representatives of businesses and companies from both countries.

As part of the Business Council, a solemn ceremony was held to sign a Memorandum of Understanding between Baiterek Venture Fund JSC (a subsidiary of Qazaqstan Investment Corporation JSC, part of the National Managing Holding “Baiterek”), the Chinese construction company XINJIANG SANBAO INDUSTRY GROUP CO. Ltd., and Zhaik Petroleum Ltd LLP to implement the "Construction of Gas Chemical Complex for Methanol Production in West Kazakhstan Region" investment project.

The commissioning of the gas chemical complex will increase manufacturing output in West Kazakhstan Region by 10%. 

The project will create up to 467 new jobs, which will have a direct positive impact on the region's social and economic development.

The XINJIANG SANBAO INDUSTRY GROUP CO., Ltd. will act as a technology partner in the construction of the new gas chemical complex.

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

The project is included in the Unified Industrialization Map of the Republic of Kazakhstan and is aimed at import substitution of methanol production, which is currently lacking in the country, and also has high export potential.

For reference:

Qazaqstan Investment Corporation JSC is a fund of private equity funds established in 2007. Its main mission is to promote sustainable economic growth in Kazakhstan by attracting direct investment and supporting projects that contribute to the modernization and competitiveness of key industries. It is a subsidiary of Baiterek NMH JSC. Additional information can be found at https://qic.kz/ru

Baiterek Venture Fund is a subsidiary of Qazaqstan Investment Corporation JSC, a captive private equity fund established in 2014 that finances large, capital-intensive projects of small and medium-sized businesses.

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 overseas construction.