CapAsia Invests in Kazakhstan Electricity Utility

CAPEC operates in northern and central Kazakhstan and its main region of business is Pavlodar and the oblasts of north Kazakhstan, where it operates four combined heat and power plants and heat and power distribution networks. It is the largest private, vertically integrated power and energy company in Kazakhstan generating more than 7% of the country's electricity output. Existing shareholders include Central Asian Electric Power Corporation and the European Bank for Reconstruction and Development (EBRD).

The funding will come from the $262 million Islamic Infrastructure Fund (IIF) that is managed by CapAsia. is jointly sponsored by the Islamic Development Bank and the Asian Development Bank. IIF seeks to make Shari'ah-compliant investments in the economic and social infrastructure sectors in the Islamic countries of Asia that are countries of operation of both the IDB and ADB. The fund is still open and expects a final close of $300 million.

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• Topics
• Southeast Asia
• Infrastructure
• Kaup Capital Singapore