BAKU, Azerbaijan, June 16. The projected volume of cargo transported in the Big Almaty Ring Road (BAKAD) zone is expected to increase by 87 percent over the next 15 years, reaching 35.9 million tons, Chairman of the Eurasian Development Bank (EDB) Nikolai Podguzov said during the opening ceremony of the BAKAD, Trend reports.
The official opening ceremony of the Big Almaty Ring Road took place with the participation of Alibek Kuantyrov, Minister of National Economy of Kazakhstan, Yerbolat Dossaev, Akim (governor) of Almaty, Marat Sultangaziyev, Akim (governor) of Almaty Region, Nandita Parshad, EBRD's Managing Director for Infrastructure, Ibrahim Ali Shoukry Director and Regional Head of the Islamic Development Bank (IDB) Regional Hub in Almaty.
Addressing the ceremony, Podguzov noted that BAKAD plays a crucial role in expanding transportation routes within the territory of Kazakhstan and the entire Eurasian region. This new infrastructure project will connect international roadways in the East-West direction, improving transportation connectivity and expanding opportunities for freight transportation. The Ministry of Industry and Infrastructure Development of Kazakhstan is the project's government partner.
Spanning 66 kilometers, BAKAD consists of four-lane sections (9 kilometers) and six-lane sections (57 kilometers), along with bridges, interchanges, and necessary infrastructure.
The BAKAD project, with a total cost exceeding $743 million, marks a groundbreaking milestone as Central Asia's inaugural international public-private initiative. Joining forces for its implementation, three financial institutions - EBRD, EDB, and IDB - have collaborated to implement the project. Moreover, Project Finance International (PFI) magazine recognized the project with its Transport Deal of the Year award for 2020.