Mazhilis approved the amendments to the Loan Agreement of IBRD for South-West Roads Project

22112017.JPG [1]

The amendments to the loan agreement envisage the inclusion of additional road sections of "Kurty - Burylbaytal" and "Uzynagash - Otar".

The deputies of the Mazhilis of the Parliament approved the draft law of the Republic of Kazakhstan “On ratification of the letter of agreement between the Republic of Kazakhstan and the International Bank for Reconstruction and Development concerning amendments No. 2 to the loan agreement No. 7681-KZ (South-West Roads: Western Europe - Western China International Transit Corridor CAREC 1b and 6b)) between the RoK and IBRD” at the plenary session of the chamber, the correspondent of BNews.kz reports.

“The amendments to the loan agreement envisage the inclusion of additional road sections of “Kurty-Burylbaytal” (85 km) and “Uzynagash-Otar” (96 km), is said in the conclusion of the profile committee of the Mazhilis.

“The main loan agreement was signed on June 13, 2009 for the amount of USD 2 billion for the reconstruction of Kyzylorda and South-Kazakhstan regions and on May 23, 2012, Amendment No. 1 was signed to the agreement with the addition of a new section from Shymkent to Zhambyl region. To date, construction work under these sections is completed, and the road is put into operation. As a result of bidding procedures, as well as due to the last devaluation, savings were generated. The total amount of savings is 396 million USD” - said the Minister for Investment of the Republic of Kazakhstan Zhenis Kassymbek.

According to him, the Government made a decision to use the savings of $ 271.2 million for the reconstruction of the Kurty-Burylbaytal (85 km) and Uzynagash-Otar (96 km) sections.

These funds will be used to construct a road with asphalt concrete pavement with four-lane traffic of 181 km, 14 bridges and 181 culverts.

Taking into account that the implementation of Kurty-Burylbaytal (85 km) and Uzynagash-Otar (96 km) projects is envisaged at the expense of the saved funds, so that the loan amount and the borrower's liabilities are not expected to increase.

Terms of the project implementation are 2018-2020.

www.bnews.kz [2]