Auction of Yermegiyaev-Owned Plant Canceled After No Bidders

The auction for a plant owned by Amangeldy Yermegiyaev, father of Talgat Yermegiyaev — convicted in the EXPO 2017 embezzlement case — failed to take place, Orda.kz reports.

The lot, priced at 8.2 billion tenge, attracted no bidders. The auction was canceled and will likely be relisted at a reduced price.

Currently, the facility belongs to JSC Problem Loans Fund. For many years before that, it was owned by JSC Sert, founded by Amangeldy Yermegiyaev, an honored figure of Kazakhstan, businessman, former party functionary, and associate of ex-President Nazarbayev.

According to the appraisal report, the plant covers 40,000 square meters in Almaty. The property includes industrial buildings, utility rooms, and railway tracks, with a total market value of 8.2 billion tenge.

Original Author: Ilya Astakhov