KFH's Asian investment arm
Al Eissa: Turkapital establishes corporation with Tatarestan government, USD 10 mln capital
Turkapital Holding Corporation Managing Director Fawwaz Al Eissa announced that the corporation that is owned by Kuwait Finance House (KFH) has established a new corporation in conjunction with Tatarestan's government, which is one of the Russian Union's republics. The corporation has a capital of USD 10 million, and focuses on projects like infrastructure development, real estate, and consumer finance, through contributions or establishing independent companies to benefit from the promising opportunities and economic development in Tatarestan, especially during the open policies, economic incentives and supportive legislation environment for foreign investments.
Al Eissa added that Turkapital own 75% of the new corporation, and the government of Tatarestan owns the remaining share. The Prime Minister Rustum Meneikhanouf, Minister of Economy Morad Safyoulin, and many officials and businessmen were present when the agreement was signed. Al Eissa expressed his joy because of establishing the corporation and the fruitful cooperation offered by Tatarestan officials. Moreover, he said that he has unlimited trust in the Tatarestan economy, especially after the positive policies executed by the government. He announced that the corporation will work on executing projects that serve the government's economic guidelines and assist in achieving the market's needs.
Furthermore, he added that studies show that the corporation has numerous projects in the fields of real estate development that is worth more than USD 100 million, in addition to infrastructure projects that carry investment opportunities worth more than USD 10 billion, which makes the available opportunities promising.
Al Eissa announced that establishing the corporation goes hand in hand with KFH's guidelines that are inclined towards expanding in new markets and building commercial exchange bridges between Kuwait and the GCC, in addition to Malaysia, Turkey, countries in south East Asia, China, central Asian countries and the former Soviet Union, by using KFH- Malaysia and Turkey as platforms for this launching.
It is worth noting that Turkapital was established by KFH Group in September 2007 as an investment holding corporation with a capital of USD 150 million to establish new projects and investment companies, in addition to achieving high returns.
