Nearly 40 investment projects of Eurasian Development Bank account for Kazakhstan (Exclusive)
Baku, Azerbaijan, September 13
By Nargiz Sadikhova - Trend:
Thirty-eight projects worth $1.36 billion of Eurasian Development Bank’s (EDB) portfolio are being implemented in Kazakhstan as of July 1, 2019, Deputy Chairman of the Management Board of EDB Amangeldy Issenov told Trend.
According to Issenov, about 30 percent of these projects account for energy sector. Some 34 percent of the projects are being implemented in mining industry and another 11 percent account for projects of infrastructure development.
“The majority of the bank’s projects in Kazakhstan are contributing to the economic integration of bank’s member country,” Issenov noted.
As an example of these projects, Issenov named the project of Hevel Kazakhstan, which oversees investments of Russian companies in renewable energy of Kazakhstan. The project of Russia’s TransTelecom oversees the creation of computer appliance of fiber-optic transmission line on the Makat-Mangyshlak area, which provides for docking of Russia’s fiber-optic transmission line with Kazakhstan’s line for transit of traffic to Turkmenistan and Uzbekistan.
“Furthermore, the participation of exporters from Eurasian Economic Union is overseen by a number of other projects, which in itself holds an integrating component,” Issenov added.
Furthermore, according to Issenov, the bank sees great interest in projects on construction of Big Almaty ring road (BAKAD) and the project on gas supply to Nur-Sultan (Saryarka pipeline) in Kazakhstan.
He noted that EDB and Development Bank of Kazakhstan have established funding of the first stage of Saryarka pipeline’s construction. The corresponding agreement has been signed on July 3, 2019, in Nur-Sultan.
Total value of funding by EDB and Development Bank of Kazakhstan amounted to 102 billion tenge, whereas the total cost of the project is 267.3 billion tenge.
Saryarka pipeline starts from Beyneu-Bozoy-Shymkent pipeline. The main construction work is to be finished by the end of 2019 and the commissioning is planned for 2020. The 1,061 kilometers long pipeline will provide 171 settlements with gas. Currently, 780 kilometers of the pipeline have been already welded, and the project is 74 percent completed.
BAKAD is part of the “West Europe – West China” international transit corridor; its construction will allow to clear the city roads of Almaty from transportation traffic, particularly addressing transit commercial vehicles. The project envisages the construction of highway with four and six technical category "1a" traffic lanes with asphalt concrete pavement, eight interchanges and other structures, as well as intelligent transport payment system.
The length of BAKAD, which will cover areas of Karasai, Ile and Talgar districts of Almaty region, is 66 km, with the capacity of 38,000 vehicles per day.
(1 USD = 387.15 KZT on September 13)
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