7.2 billion KZT to be allocated from government reserve for capitalization of Food Contract Corporation - PM
Astana. August 18. Kazakhstan Today - 7.2 billion KZT will be allocated for capitalization of NC Food Contract Corporation JSC from the government reserve. The Prime Minister of Kazakhstan, Karim Masimov, gave the assignment on Saturday during the meeting concerning regulation of grain market and maintenance of food safety in the country, the agency reports. As it was informed earlier, NC Food Contract Corporation JSC with a view of realization of the budgetary program plans to purchase wheat in volume of up to 478.4 thousand tons and 600 thousand tons for stabilization resources. NC Food Contract Corporation JSC is the national company with 100 % of the state participation created in 1995. NC Food Contract Corporation JSC is one of the largest exporters of grain in the world market. The company - one of the largest holders of grain in Kazakhstan with annual volume of purchase of about 2 - 2.5 million tons. NC Food Contract Corporation JSC is located basically in grain sowing regions of the Republic. NC Food Contract Corporation JSC is the proprietor of the unique operating grain terminal in the sea port Aktau (Caspian Sea). NC Food Contract Corporation JSC has its representations in 10 regional centers of republic and also foreign representations in Great Britain (London), the Russian Federation (Moscow), Chinese National Republic (Beijing), the Islamic Republic of Iran (Teheran), and the Republic of Azerbaijan (Baku). Since August 1998, NC Food Contract Corporation JSC has been a member of the International Grain and Feed Trade Association (GAFTA) that entitles it to conclude contracts on delivery of grain under the international standards and to resolve disputes in Arbitration GAFTA in London.
Resourse: Kazakhstan Today