Middle East Economic Survey


No 42



Kabyldin Says KMG Will Cover Investment Needs To 2014 Via Loans

KazMunaiGaz (KMG) CEO, Kairgeldy Kabyldin, said on 8 October at a press conference held in Almaty that KMG will not opt for an Initial Public Offering (IPO) until 2014 in order to cover the bulk of more than $20bn it needs to invest. Instead KMG will borrow up to $14bn in order to cover its investment needs, according to Mr Kabyldin. The company wants to increase...