Kazyna Capital Management and Veolia Water Solutions & Technologies have signed a memorandum of understanding (MoU) to jointly implement a seawater desalination plant in Kazakhstan.

Located in Aktau, the new 125,000 m³ per day plant will supply water to industries and the population of Aktau and Zhanaozen, the two main cities in the oil province of the Manghystau, located on the shores of the Caspian Sea.

This memorandum follows a study conducted by Veolia, in partnership with the Kazakhstan public private partnership (PPP) Centre, on behalf of the Manghystau region and supported by French authorities, to define a business model allowing for private sector participation in the implementation of this desalination project.

Kazyna Capital Management's mission is to provide equity capital to companies at various stages of growth through private equity funds and jointly with other investors in order to promote sustainable development of the Kazakh national economy.

Aktau is the second largest city in western Kazakhstan and the country's main seaport on the Caspian Sea. It is located on the Mangyshlak Peninsula and is the capital of Mangystau Region. The city has a population of approximately 160,000 inhabitants.

Zhanaozen  is a town in the Mangystau Region of Kazakhstan located south-east of the city of Aktau. The town has a population of approximately 50,000 inhabitants.