Investment volume of geological exploration in Kazakhstan`s Saryarka rgn announced

ASTANA. KAZINFORM Some 36 billion tenge (182.46 tenge=$1) has been allocated in connection with the geological exploration for the implementation of the Sary-Arka project in Kazakhstan, Vice Minister of Industry and New Technologies of Kazakhstan, Nurlan Sauranbayev said at a press conference in the framework of the dialogue platform 'Geology-360' in Astana on March 5.

"The Sary-Arka project will begin in Kazakhstan and is associated with conducting exploration in the Saryarka region. 36 billion tenge has been allocated for this purpose," he said. The Saryarka region comprising the Akmola and Karaganda regions in the centre of Kazakhstan has a significant mineral resource base which is one of the main points of economic growth, according to Sauranbayev, Trend reports. The project will be implemented by the Committee of Geology and Subsoil Use of the Ministry of Industry and New Technology of the Republic of Kazakhstan in partnership with akimat (mayor's office) of the Karaganda region. "The purpose of the Sary-Arka project is to attract investments from multinational companies in Kazakhstan's geological exploration and the transfer of advanced technology and government orders for the geological study of subsoil," the vice-minister said. The implementation term of the pilot project is designed to run until 2020, according to Sauranbayev. Main participants are the Committee of Geology and Subsoil use, the akimat of Karaganda region, Kazgeologiya JSC and a number of companies.