Photo: Kazakhstan’s Ministry of Water Resources and Irrigation
Authorities in Kazakhstan have returned the hydraulic facilities of the Kengir Reservoir in the Ulytau Region to state ownership, according to a statement from the regional prosecutor’s office.
To reclaim the asset, the oversight agency submitted a formal request to the Minister of Water Resources. A gift agreement was then signed with the reservoir’s previous owner, Kazakhmys Distribution LLP.
“The next step for the relevant authorities is to conduct a comprehensive inspection of the reservoir and its hydraulic infrastructure to determine further modernization measures,” the prosecutor’s office stated.
Constructed in 1952, the Kengir Reservoir is the largest in the Ulytau Region, with a capacity of 319 million cubic meters. This strategic asset was previously transferred to the balance sheet of the city-forming enterprise Kazakhmys Distribution LLP, according to the prosecutor’s office. Discussions about returning the reservoir to state ownership had been ongoing for years. Notably, Ryskali Abdikerov, a member of parliament, referred to a 1996 government decree mandating the transfer, though its implementation had been repeatedly delayed for various reasons.
Kazakhmys Distribution LLP is part of the Kazakhmys Group corporate structure. According to egov.kz, the group is owned by Kazakhmys Copper, which is wholly controlled by the Dutch holding company KCC B.V. According to reports published on the Kazakhstan Stock Exchange (KASE), the ultimate controlling shareholder of KCC B.V. is Vladimir Kim with a 70% stake, while the remaining 30% belonged to former chairman Eduard Ogay. Both businessmen are ranked among Kazakhstan’s twenty wealthiest individuals, according to Forbes.kz.
