ASTANA, Kazakhstan, July 10. Kazakhstan has adopted the Railway Transport Development Concept until 2030, Trend reports via the country's Ministry of Transport.
According to the designers of the concept, railroad transport, which is the backbone of the economy, is currently facing a number of hurdles that could put a damper on its ability to keep things chugging along and hinder economic growth.
The concept aims to tackle these challenges one by one. Key objectives include creating a top-notch railway transport system for the state and society, as well as giving the industry's fixed assets a facelift.
Rail transport is pivotal to the nation's economy, contributing significantly to freight turnover, and handling the majority of export and transit cargo. Regarding passenger transport, currently, 14 companies operate in this sector, with one national and 13 private entities involved. The national carrier manages over 100 rail routes for passenger transportation. Future growth in passenger traffic is anticipated, driven primarily by natural population increases in the coming years.
The concept of railway transport development stems from a thorough analysis of the current landscape in both freight and passenger rail transportation.
In formulating this document, the Ministry of Transport conducted a comprehensive review, examining transportation reforms in neighboring countries and evaluating the existing institutional and regulatory framework within the railway industry.
The strategic document aims to implement a series of measures aimed at attracting private investment into the industry, modernizing competitive rolling stock markets, undertaking significant projects to construct new rail lines, and enhancing the mechanism for passenger transportation by private enterprises.
Funding for the implementation of the railway transport development concept will be pulled out of the republican budget, Kazakhstan Railways (Kazakhstan Temir Joly), and private investments.
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