On 16 June 2016 there was an extraordinary meeting of the Board of Directors of JSC NC Kazakhstan Temir Zholy (KTZ) chaired by Adamas Ilkevicius, Managing Director for Transformation and Special Projects of JSC National Welfare Fund Samruk-Kazyna.
As part of the State programme for the development and integration of the transport system infrastructure of Kazakhstan until 2020, approved by the Decree of the President of the Republic of Kazakhstan dated 13 January 2014 No. 725, measures to establish a national carrier of goods on the basis of JSC Locomotive are underway. It was decided to rename JSC Locomotive as JSC KTZ-Freight Transportation at the meeting of the Board of Directors of JSC NC KTZ No. 5 as of 21 April 2016. And in order to make necessary decisions to shape the corporate structure and to transfer of functions from JSC NC KTZ to JSC KTZ-Freight Transportation the composition of the Board of Directors of JSC KTZ-Freight Transportation in five persons was determined for a period of one year at that meeting as follows:
- Kanat Kalievich Alpysbayev, Chairman;
- Madi Muratovich Aytpaev;
- Vladimir Vladimirovich Babichenko;
- Zhanassyl Begalievich Ospanov, Independent Director;
- Ravshan Dzhuraevich Rakhmatullaev, Independent Director.
There also were discussions on the corporate guarantee of JSC NC KTZ in favour of JSC Halyk Bank of Kazakhstan for JSC Vostokmashzavod and guarantee of JSC NC KTZ for Aktyubinski Relsobalochnyi Zavod LLP (Aktobe Rail and Structural Steel Plant LLP).