Dinara Kulibayeva's NNEF to Challenge KBTU Transfer to State
Photo: Igor Ulitin, Orda.kz
Kazakh-British Technical University (KBTU) was transferred to state ownership on March 4, now under the Returned Assets Management Company (RAMC). The NNEF public foundation, owned by Dinara Kulibayeva, responded to Orda.kz's inquiry about the situation.
NNEF confirmed that as of February 27, RAMC controls 100% of KBTU shares following a court decision. NNEF emphasized they had legally acquired the university in 2018 through an open tender for 12.1 billion tenge.
According to NNEF, they inherited KBTU in a poor state, with 2.7 billion tenge in losses, fewer than 1,900 students, and deteriorating infrastructure. Under their management, the university was transformed – student numbers grew to 7,600, educational programs increased from 16 to 68, and two new faculties were established.
NNEF invested over 11 billion tenge in infrastructure and another 7 billion for student social conditions, never taking profits as dividends. The university now holds top positions in national and international rankings and maintains partnerships with British universities and major companies, including Chevron and Schlumberger.
The foundation stated they are taking legal measures to challenge the court decision and restore their ownership rights to KBTU.
Original Author: Nikita Drobny
Latest news
- Kazakhstan’s Credit Rating Upgraded for First Time in a Decade
- While Thousands Lost Power, KEGOC Executives Received Nearly Half a Billion Tenge
- Changi Airport Group May Help Build Astana’s New Airport
- US Again Extends Deadline for Lukoil to Sell Its Assets in Kazakhstan
- Kazakhstan Extradites Business Manager From Russia in 290 Million Tenge Tax Case
- Released Amur Tiger Successfully Hunts in Kazakhstan’s Wild
- Kazakhstan Moves to Develop Critical Minerals as Global Competition Intensifies
- Another Performance by Kazakh Stand-Up Comedian Called Off
- Uzbekistan Begins Preparations for Second Nuclear Power Plant
- Backpack Links Glacier Remains to Man Missing for 19 Years
- 650-Hectare Wildfire Contained in Karaganda Region
- Unusual Wildlife Encounter Captured in Altyn-Emel
- Retired Border Service Dog Sold for $2 at Kazakhstan Auction
- Will Kazakhstan Have Enough Coal This Winter?
- Belarusian Hikers Find Body on Glacier Near Almaty
- Kazakhstan Investigates Spending on 242 Million Tenge Educational Game
- Kazakhstan Makes Caspian Oil Companies Pay for Counterterrorism Deployments
- Kazakhstan Faces Shortage of 245,000 School Places
- Waste Dumping Reported Near Yurt Camps at Lake Zaisan
- Kazakh Oil Rerouted to Novorossiysk as Russia Frees Baltic Export Capacity
