Development Bank of Kazakhstan to invest in 20 big projects over two years

Development Bank of Kazakhstan to invest in 20 big projects over two years

Baku, Azerbaijan, May 26

By Elena Kosolapova - Trend:

The Development Bank of Kazakhstan will implement over 20 investment projects in the next two years, Novosti-Kazakhstan reported with the reference to Acting Chairman of the bank's Board Askar Dostiyarov.

"The Development Bank defined a list of potential projects for the next two years, the so-called pipeline. Our pipeline includes more than 20 investment projects worth more than 1.4 trillion tenge (182.74 tenge = $1) in infrastructure, machinery, petrochemicals and oil refining, metallurgy, electric power, telecommunications," Dostiyarov said at a briefing at the central communications service on May 26.

The bank requires over 1 trillion tenge in credit, he said.

Among the priority projects are the modernization of the Shymkent refinery, Pavlodar petrochemical plant and Ust-Kamenogorsk power plant, expansion of Aktau sea port to the north, construction of hardware and software complex and communication platforms along the TransTelecom railway lines.

Moreover the bank will invest in the reconstruction and expansion of Pustynnoye mining and metallurgical enterprise, expansion of high-carbon ferrochrome production at the Aktobe ferroalloys plant, construction of a flat glass plant in Kyzylorda and expansion and reconstruction of Ekibastuz GRES-2 power plant.

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