ASTANA. August 27. KAZINFORM /Murat Zhakeyev/ Chairman of the Board of SamrukKazyna National Welfare Fund Kairat Kelimbetov considers that implementation of the five-year State Program on Forced Industrial-Innovative Development of Kazakhstan will bring the country to a brand new level of development. He has said it at the I Summit of the Heads of SamrukKazyna Fund JSC group in Astana today.

"The State Program on Forced Industrial-Innovative Development is a powerful program which is called to lead Kazakhstan to a brand new level of development in 5 years", K. Kelimbetov said.

According to him, the total volume of financing the state program makes USD 45 bln, 50% of which relate to the projects implemented by SamrukKazyna Fund.

"We have set to implementation of 21 projects worth USD 22 bln. These are large projects which are planned to be discussed today. The point at issue is reconstruction and modernization of largest oil refineries and construction of new railroads which will connect West and East", the Chairman of the Board of SamrukKazyna said.

Alongside, K. Kelimbetov noted that technological modernization and diversification of economy is impossible without modernization of major national companies of the country.