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New Chinese-Kazakh projects to be realized in 2018

Business Materials 27 February 2018 10:16 (UTC +04:00)

Baku, Azerbaijan, Feb.27

By Nigar Guliyeva – Trend:

This year, Kazakhstan will launch construction of five projects involving Chinese capital with an investment of $623 million, said Kazakhstan's Minister of Investment and Development Zhenis Kasymbek on Feb.27.

He noted that 51 projects worth $27.7 billion are being implemented within the framework of Kazakh-Chinese cooperation, of which 4 projects for the amount of $140 million were launched already.

"Under this program, development of 11 projects is underway in 2018. Six of these projects are worth $363 million, and are planned to be commissioned. This year construction will be launched within five projects involving Chinese capital," Kasymbek said at a meeting of the government.

Over the past years, the total amount of China's investment in the economy of Kazakhstan has exceeded $42.8 billion, and issued loans - $50 billion.

As for cooperation with Turkey, within the framework of the Kazakh-Turkish cooperation program "New Synergy", which consists of 26 projects, only one project has been implemented so far, he said.

The trade turnover between Kazakhstan and Turkey to date is about $ 2 billion. The two countries set the task to bring the level of mutual trade to $ 5 billion.

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