UPDATE 1-Kazakh sovereign fund to borrow up to $1 bln in 2010
* Money to be borrowed from abroad
* Will use funds to build and upgrade industrial facilities
(Adds details, background)
ASTANA, Feb 18 (Reuters) - Kazakh sovereign welfare fund Samruk-Kazyna plans to borrow up to $1 billion from abroad this year to finance large industrial projects, Chief Executive Kairat Kelimbetov said on Thursday.
"We will watch the markets and we plan to raise up to $1 billion," Kelimbetov told reporters.
He said the money would be spent on projects such as constructing a chemicals plant in western Kazakhstan and upgrading the Central Asian nation's oil refineries and power plants.
Samruk-Kazyna controls Kazakhstan's largest state-run companies, including energy firm KazMunaiGas [KMG.UL] and the Development Bank of Kazakhstan. (Reporting by Raushan Nurshayeva; Writing by Olzhas Auyezov)
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