Kazakhstan refrains from investing

Kazakhstan has been one of the biggest investors in Georgia until now. Today however it has decided to abandon certain investment projects.

This decision is mostly political rather than economical in motivation. As a result of Russian pressure Kazakhstan is no longer so enthusiastic for the alternative ways of transporting its products which avoid Russia.

When Kazakhstan withdrew from constructing a grain terminal in Poti its Agriculture Minister Akilbek Kurishbaev openly stated that this decision was determined by the current situation in Georgia. Kazakhstan was due to spend USD 9 million on this project. At the moment Astana exports its grain through Ukraine and Russia, so Poti would have provided an alternative route.

Since August Kazakhstan has given up a Georgian-based project. Very recently, Kazmunaigaz decided not to build an oil refinery in Batumi.