JSC Kazakhtelecom has announced the payment of dividends on the company's preferred shares for 1996-1997 beginning on 12 November 1998. The payment will follow the procedure as laid down in the Kazakhtelecom prospectus of issues. An official advertisement says that all the technical issues involved, such as the timetable and the place of the payment will be additionally advised before 6 November by Kazakhtelecom's official registrar, Reestr-Service. (Kazakhstanskaya Pravda)

The management of Zhiremsky Mining and Concentrating Plant (GOK) based in Karaganda region in Central Kazakhstan plans to start building a factory to process polymetal ore with an annual capacity of 2 million tonnes early next spring. The capacity will later increase to 4 million tonnes. The information was released by a technical director of Zhairemsky GOK, Sergei Salmanov. He said that the construction would take 3 years and that the project value was estimated at USD 150m including the cost of construction itself and purchasing equipment. According to other estimates the project will cost USD 250-300m. The management hopes to get loans from foreign companies with whom it is currently negotiating. (Interfax)

Prime Minister, Nurlan Balgimbaev, met representatives of Phillips Petroleum on Monday 5 October. He suggested that the company should concentrate on constructing a plant to produce a liquefied petroleum gas (LPG). Under a recent agreement signed with the Kazakh government, Phillips Petroleum pledged to build such a plant with a cost estimated at USD 500m. According to the prime minister, Kazakhstan imports about 1 million tonnes of LPG from Russia and Uzbekistan annually and the demand for LPG is expected to increase in the future. The Chairman of the Board of Directors of Phillips Petroleum noted that his company has great expertise in the petrochemical sector. He expressed the company's wish to participate in the privatisation of hydrocarbon deposits in Kazakhstan. (Interfax)