Kazakhstan plans to invest $20bn in infrastructure development

By bne IntelliNews March 31, 2015

Kazakhstan plans to invest $20bn in infrastructure development until 2020, First Deputy Minister of Investment and Development Zhenis Kasymbekov said at a Kazakhstan-Batumi business forum on March 30.

The investment will mainly go into infrastructure projects the East-West corridor, towards the Caspian Sea and further to Azerbaijan, Georgia and Turkey. He noted that most of the funds would be channelled into the development of the new railway line Beynau-Zhezkazgan and into the Altynkol-Khorgos railway passage. This would help attract Chinese transit towards the Persian Gulf and the Caucasus.

Kazakhstan is interested in using the Baku-Tbilisi-Kars railway line, which is due to start operations this year. Astana is busy with efforts enabling to benefit from Kazakhstan's favourable location between Europe and Asia by developing relevant transport infrastructure. Investment in transport is among priorities of the Nurly Zhol development plan announced by the Kazakh leader, Nursultan Nazarbayev, on November 11, 2014.

Related Articles

US investor reportedly to replace CEFC in refinery deal with KazMunayGas

A US investor backed by Overseas Private Investment Corporation (OPIC) might replace troubled China Energy Company Limited (CEFC) and take over 51% of KazMunayGas International ... more

ADB sees general Central Asia slowdown in 2018

The Asian Development Bank’s (ADB’s) Asian Development Outlook anticipates a general slowdown across the Central Asian region, with the exceptions of Uzbekistan, where the development bank ... more

Kazakhstan mulls ban on cryptocurrencies

Kazakhstan’s central bank is considering a ban on cryptocurrency use, exchanges, and mining, Daniyar Akishev, the chairman of Kazakhstan’s National Bank, told ... more