A government decree on the creation of the Non-Commercial JSC 'Kazakh Research Institute of the Caspian Sea'” has been developed, QazMonitor reports.
According to the document, the state will hold one hundred percent of the shares in the authorized capital of the research institute.
"The resolution, under subparagraph 4) of Article 11 of the Law on State Property, declares: 1. To establish a Non-Profit Joint Stock Company, 'Kazakh Research Institute of the Caspian Sea,' with the state holding a hundred percent stake in its authorized capital," the resolution reads.
The research institute will focus on environmental monitoring and research in the Kazakh sector of the Caspian Sea to preserve and regenerate its natural resources, fostering collaboration with research institutes and organizations of the Caspian states.
The authorized capital of the company will be funded from the national budget, amounting to 300 million tenge.