Taiqonyr Qyshqyl Zauyty, the company building a sulfuric acid plant in the Turkestan region, earned 103.9 million tenge in profit over the year from deposit interest, reports infohub.kz.
In 2025, the enterprise posted a profit of 103.9 million tenge, compared to a loss of 818,000 tenge the previous year. The company is implementing a project to build a sulfuric acid production plant with an annual capacity of 800,000 tons in the Turkestan region.
Since construction is not yet complete, there is no revenue or operating income, while administrative expenses reached 86 million tenge. Interest on deposits placed in savings accounts brought in 216 million tenge in income. The company holds 879 million tenge in deposits.
The construction is financed by the state-owned Development Bank of Kazakhstan. The total credit line limit is 85 billion tenge, and the project cost is estimated at 113 billion tenge. By the end of 2025, Taiqonyr Qyshqyl Zauyty had received three tranches from the DBK totaling 37.7 billion tenge. The interest rate on the loans is 15.83%, with maturity until October 30, 2033.
In May 2025, Kazatomprom reported that the plant's construction is scheduled for completion in the first quarter of 2027.
Taiqonyr Qyshqyl Zauyty is 60% owned by Asia Pipeline Services and 40% by Kazatomprom's subsidiary Kazatomprom-SaUran. Initially, the project was implemented by Kazatomprom itself, but later the national company transferred part of its stake.
Currently, the majority stake belongs to Asia Pipeline Services, which in turn is owned by TSKZ Solutions, registered in the AIFC. The sole owner of the latter is the major developer Qazaq Stroy. The founder and incorporator of Qazaq Stroy is considered to be Nurlan Artikbayev, ranked 21st on the Forbes list in Kazakhstan with a fortune of $508 million.
However, according to Taiqonyr Qyshqyl Zauyty's report and Adata data, the official founders of Qazaq Stroy are Nadezhda Artikbayeva with 95% (family ties to Artikbayev unknown) and Dmitry Lee with 5%.
Earlier it was reported that the private company Qazaq Kalium Ltd., co-owned by businessman Nurlan Artikbayev, incurred a loss of 1.2 billion tenge in 2025.