The Ministry of Agriculture of Kazakhstan is interested in a partnership with Lindsay Corporation, an American company specializing in pivot system manufacturing, and is looking forward to introducing water-saving technologies and up-to-date irrigation equipment in Kazakhstan. According to the agency’s statement, Vice Minister Ermek Kenzhehanuly and Lindsay Corporation CEO Gustavo Oberto discussed the relevant matters during their meeting.
The agency’s task is to increase the gross collection of farm products, so the Ministry of Agriculture aims to achieve this goal by introducing modern irrigation systems, Kenzhehanuly noted.
«Innovative engineering solutions in the irrigation area, infrastructure and industrial technologies offered by your company [Lindsay Corporation] are of great interest to us as they will have a positive impact on agricultural sector development. We are willing to cooperate in this area,» Vice Minister told the CEO of Lindsay Corporation.
No specific details of the alleged cooperation have been provided.
Lindsay Corporation, headquartered in Nebraska, is a manufacturer of the Zimmatic irrigation system. The enterprise also produces agricultural and construction machinery as well as road and railway equipment.
The company’s shares are divided between Vanguard Fiduciary Trust Co., an American investment advisor (11.6%), LB Hercules Holdings, whose activities are not revealed in the open sources (7.2%), State Street Corporation, financial services and bank holding company (4.1%) and Amundi Deutschland, a German subsidiary of the French asset management company (3.9%).
At the end of last year, the Ministry of Water Resources explained that due to channel deterioration, more than 40% of water is lost during transportation. The ministry noted that more than 14 thousand kilometers of networks require reconstruction. For these purposes, the agency planned to spend more than $2 million.
Note: The material has been edited following the request by Eurasia Group Kazakhstan, a company claiming to be a local partner of Lindsay Corporation. The Ministry of Agriculture has simultaneously edited its release, which was published on the agency’s website. The initial edition claimed that Lindsay Cooperation was to implement the project for irrigation system assembly localization in Kazakhstan under the arrangement with the ministry.
