Kazakhstan is poised to bolster its transportation infrastructure with a slew of investment projects totaling over $22 bn. The Ministry of Transport has unveiled the specifics of these initiatives, highlighting their pivotal role in enhancing the country's transit potential, LSM.kz reported.
A comprehensive pool of 36 investment projects has been curated, with 12 already in progress. Among these projects, the railway sector takes precedence, with four projects valued at over $3 bn. Similarly, the aviation sector boasts four projects totaling more than $1.4 bn, while maritime transport sees three projects amounting to over $600 mn, along with one project exceeding $60 mn.
The remaining 24 projects encompass a range of promising endeavors, including nine aviation projects backed by private financing exceeding $2.4 bn. While investors have been secured for three projects, efforts are underway to identify partners for the remaining six.
In the realm of road infrastructure, 14 projects spanning a total length of 4,800 kilometers are on the horizon. These projects are anticipated to attract private investments exceeding $15 bn, with international financial institutions also being considered as potential funding sources. Collectively, the investment portfolio for all projects surpasses the significant milestone of $22.4 bn.
Earlier Daryo reported that during the opening of the Global Gateway Investors Forum for EU-Central Asia Transport Connectivity, Valdis Dombrovskis, Executive Vice President of the European Commission, announced that European and international financial institutions participating in the forum will earmark €10 bn to support and invest in sustainable transportation infrastructure in Central Asia. The forum, which centers on enhancing transportation links between the European Union and Central Asia, commenced in Brussels on January 29 and is set to run for two days, as per the European Commission's press service.
On the inaugural day of the forum, a series of commitments were made within the €10 bn funding framework. The European Investment Bank (EIB), represented by Vice President Teresa Czerwinska, signed a memorandum of understanding totaling €1.47 bn with the governments of Kazakhstan, Kyrgyzstan, and Uzbekistan, along with the Development Bank of Kazakhstan. These loans will be backed by guarantees provided by the European Commission.
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