ASTANA, Kazakhstan, August 10. The Turkish Alarko Holding JSC plans to undertake the construction of greenhouse complexes covering a total area of 500 hectares and to invest around $650 million in the development of Kazakhstan's agriculture within five years, Trend reports.
National Company KAZAKH INVEST JSC provided support and assistance in fostering this investment cooperation.
The Ministry of Agriculture of Kazakhstan and Alarko Holding have signed a Memorandum of Understanding, which will be outset for the above project's implementation.
The signed document envisages launch of the construction of greenhouse complexes in Kazakhstan by the holding until the end of 2023. The initial stages of the project are planned to be completed by the summer of 2024.
Preliminarily, the new greenhouses are expected to be established in the southern regions of Kazakhstan. Representatives from Alarko will soon visit these regions to select the optimal location for the future complex.
Identification of specific land plots and clarification of the project's characteristics will be followed by detailed road-mapping for clear timelines and implementation stages.
The Ministry of Agriculture expressed readiness to provide all necessary conditions and support.
Alarko is one of Türkiye's leading conglomerates. The company specializes in various projects in the fields of energy, tourism, construction, agriculture, and trade.
Last year, Alarko began investing in the agricultural sector, focusing on auxiliary cultivation in greenhouses and open fields, the use of organic-mineral fertilizers, as well as processing and selling food products.
The company is also actively implementing agricultural technologies and conducting research in this field.
KAZAKH INVEST JSC was established in accordance with the Resolution of the Government of the Republic of Kazakhstan No. 100 dated March 1, 2017 “On the renaming of the National Export and Investment Agency KAZNEX INVEST Joint-Stock Company in order to promote sustainable socio-economic development of the Republic of Kazakhstan by attracting foreign investment in priority sectors of the economy and comprehensive support of investment projects.