Authorities Reclaim Land from Company Tied to Timur Kulibayev
Photo: Olympica.kz
Authorities in Atyrau have seized unused land plots linked to companies controlled by Kazakh billionaire Timur Kulibayev, Orda.kz reports.
Among them is a 3.46-hectare waterfront property in Atyrau valued at over 250 million tenge, initially granted to LLP Kipros for pier construction but left undeveloped.
The Atyrau Regional Prosecutor’s Office confirmed the move, noting that 16 unused plots totaling over 31,400 hectares and worth 196 million tenge were returned to the state following a land oversight review.
This is not the first time Kulibayev’s businesses have lost land. Earlier this year, his company was stripped of another high-value plot in an Atyrau park for similar non-use.
In a separate development, LLP Atyrau Neftekhim — jointly owned by Russia’s SIBUR Holding and Kulibayev’s Almex Petrochemical — was ordered to return an unused 106-hectare plot within the National Industrial Petrochemical SEZ. The land was valued at 1.6 billion tenge.
The prosecutor’s office said the agreement with the SEZ was canceled and the company was removed from the list of zone participants due to failure to meet its obligations.
Ownership structure:
- Almex Petrochemical is fully owned by LLP Joint Technologies.
- Joint Technologies is, in turn, owned by Kulibayev’s LLP Kipros, shared with longtime business partner Raushan Sagdiyeva.
Original Author: Nikita Drobny, Second article
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