OLEG YURIEVICH NAM Chairman of the Board of KUAT Corporation

"The company is strong, transparent and creative"

Almost everything in Kazakhstan has been built from scratch. In 1993, the KUAT Corporation made its start in a back office in Almaty. Oleg Nam, a founding member and chairman of the board, has helped turn the firm into a premier contractor.

You co-founded the firm with very little seed money. How did you turn it into a flagship?

We created the company from scratch. In 1993, things were difficult in Kazakhstan—our country was in the throes of its transition. The first seven years we were constantly chasing after contracts. Still, the company was steadfast in achieving its yearly goals.We prepared very seriously for the market over a ten-year period; we’re now celebrating our 15th anniversary.

How do you finance your construction projects?

Foreign financial institutions are aware of us. We work closely with consultants at PWC and also have contact with representatives of Dresdner Bank in London. Swiss banks, as well as the EBRD, have also inspected our work recently. In December 2006, we were awarded the Crown for Quality, and Swiss-based Insel awarded us its Crystal Drop for transparency. Each year, we undergo an audit of our management system. In other words, many credit institutions are already willing to finance our projects, such as the Sayran project in Almaty, worth £1.7 billion. KUAT is planning to issue Eurobonds through Dresdner Bank in London. The company is strong, transparent and creative.

How would you characterise investor relations with the UK?

President Nursultan Nazarbayev and Prime Minister Tony Blair have enjoyed an excellent relationship. Many investment agreements have been signed and bilateral trade has soared. There is a good mutual understanding not only between our heads of state, but also among our people. In terms of business relations, companies such as Kazakhmys, Kazakhaltyn and Kazkommercebank have chosen to list at the London Stock Exchange (LSE).

What projects under construction would you highlight?

Aside from Sayran, there is Tau Samal, an 18-hectare plot, for example, and the Grand Astana project, which covers 22 hectares in the capital. Also, the 4.5-mile road construction project east of Almaty, involving 330 hectares of development over a five-year period. These are all high-return projects.