Kazakhstan and Saudi Arabia Strengthen Energy and Investment Ties

Last Updated on March 7, 2024 1:14 pm

Kazakh President Kassym-Jomart Tokayev and Saudi Arabian Minister of Energy Abdulaziz bin Salman Al Saud convened on March 7 to explore opportunities for advancing energy and investment collaboration, as reported by the Akorda press service.

Highlighting the unprecedented level of Kazakh-Saudi relations, President Tokayev expressed his positive impression from recent agreements with Crown Prince and Prime Minister Mohammed bin Salman Al Saud, emphasizing the significant boost to bilateral cooperation across various sectors.

“We consider your visit as a symbol of friendship and close ties between the two states. I am still under a very positive impression from my visit to your great country. The visit was truly successful. We have reached agreements on many areas, primarily on energy cooperation. I am confident in the bright future of our relations,” remarked President Tokayev.

Expressing gratitude for the warm welcome, Minister Abdulaziz bin Salman stated, “We highly value bilateral relations with Kazakhstan, which have deep historical roots. Saudi Arabia was among the first countries to extend a helping hand to Kazakhstan, which had just gained its independence.”

During the meeting, Mohammad Abunayya, Chairman of the Saudi company ACWA Power, outlined the prospects of a joint investment project for the construction of a 1 gigawatt (GW) wind power plant in the Zhetisu Region. He also discussed plans for collaboration with Kazakhstan in the field of green energy.

Subsequent to the meeting, the governments of Kazakhstan and Saudi Arabia signed an agreement for the implementation of a joint project to construct a wind power plant, solidifying their commitment to bolstering energy and investment ties.