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.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Lukoil expands in Kazakhstan

Lukoil is expanding its oil and gas operations in Kazakhstan, the Moscow-based Kommersant newspaper reported on April 8, amid limited overseas opportunities for the company because of Russia’s ... more

Kazakhstan and Uzbekistan’s combined IT exports surpass $800mn

Kazakhstan and Uzbekistan’s combined IT exports surpassed $800mn in 2023. The Kazakh IT sector's export revenue jumped from $50mn in 2020 to over $500mn last year. Astana Hub was a major ... more

Reconstruction of Afghanistan-Uzbekistan railway starts, ambition is to extend route to Pakistan

Engineers have commenced the $6.3mn and three-month reconstruction of the 75-kilometre (47-mile) cross-border railway line that links Uzbekistan and Afghanistan, ... more

Follow Us On

Most Read

  1. Iran vs Israel: Who is better equipped for war?
    5 days ago
  2. Saudi Arabia to scale back plans for Neom city
    9 days ago
  3. BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
    6 days ago
  4. PANNIER: Caspian military drills that exclude Russia and Iran have some people in Moscow asking questions
    7 days ago
  5. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    20 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    24 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    29 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    22 days ago

Reports

Dismiss