Prosecutors stepped into a legal case to protect the interests of Chinese investors in Kazakhstan

The Prosecutor’s Office of the Ulytau region has protected the rights of a Chinese investor after local fiscal authorities almost paralyzed the operation of Mezgilder Qushteri, a company that is constriction a wind power station worth $163 million, according to the press service of the law enforcement agency.

What did the fiscal authorities do? As the Prosecutor’s Office reported, fiscal authorities blocked transactions of the company’s banking account and even requested the court to cancel the state reincorporation of a legal entity, even though the company is located at the same address where it has been registered.

«As a result, the investor’s activities were paralyzed, which caused a delay in the investment project implementation,» the agency said in a statement.

After the Prosecutor’s Office intervened, the legal case against the company was revoked, the investor’s rights were restored and those officials who violated the law were punished.

Who runs Mezgilder Qushteri? According to eGov, the company has two official founders: Universal International Holdings Limited and Panabek Kikimov. Jiali Zhou, a Chinese citizen, heads the company.

In the middle of November, Kursiv wrote that Mars Wind won a bid for the construction of wind power stations with a combined capacity of 50 megawatts for the Northern Zone of the United Energy System of Kazakhstan. The project is expected to be implemented in the Kostanay region. Universal International Holdings Limited and Panabek Kikimov are also the founders of Mars Wind.

Over the period from January to September 2023, renewable energy sources produced 4.91 billion kilowatts per hour, which is a 25% increase over the same period last year, the Ministry of Energy reported. Wind and solar power stations accounted for most of this electricity: 2.575 billion kilowatts per hour and 1.572 billion kilowatts per hour, respectively.

The government of Kazakhstan wants to make the share of the renewable energy sector reach 15% by 2030. Several big projects in renewable energy sources with a capacity of one gigawatt each are expected to facilitate this goal.