EBRD FINANCES KURTY-KAPSHAGAI ROAD RECONSTRUCTION

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The source of photograph: web-site of NC KazAutoZhol

A ceremony of signing a Loan Agreement for the Kurty-Kapshagai Road Project between the European Bank for Reconstruction and Development and JSC NC KazAutoZhol took place at the MIID RK.

The Loan Amount is 34,479.7 million tenge which will be invested in the reconstruction of a 67 km long road section between the villages of Kurty and Kapshagai. The road is part of the Center-South Road Project - a significant project for our country, a link between the North and the South of Kazakhstan.

 “The Contractor for this Project will be Xinjiang Construction. We held negotiations with the Bank and carried out bidding process at the same time. A Contract has been signed with the Contractor. We can proceed with the implementation of the Project” Ulan Alipov, Chairman of the Board of NC KazAutoZhol JSC, said.

It shall be noted that the EBRD is actively involved in financing infrastructure projects in the Republic of Kazakhstan. So, with the participation of the Bank in the road sector, 2 projects were completed under the Western Europe – Western China Transit Corridor Project totaling $ 322 million: 102 km long Aktobe-Martuk road section, and 62 km long Tashkent-Shymkent road section.

NC KazAutoZhol JSC signed the Loan Agreement for a total of $ 196 million for reconstruction of the 143 km Kurty-Burylbaital road section. To date, construction works are being carried out.

Also this year, 103.7 billion tenge Loan Agreement has been signed for Atyrau-border of the Russian Federation (to Astrakhan) road reconstruction, including the Atyrau North Bypass of 243 km long.

At the end of the meeting, the EBRD Director for Kazakhstan, Agris Preimanis, expressed his gratitude to the MIID of Kazakhstan and the hope for further cooperation.