South Korean consortium picks up Kazakhstan highway deal

A South Korean consortium is in line for a US$75 million loan from the Asian Infrastructure Investment Bank (AIIB) for a project in Kazakhstan. The $900 million project around the city of Almaty will see development of a 66km highway with eight intersections and 21 bridges, according to a report in the Korea Herald. The consortium consists of Korea Expressway and SK Engineering and Construction (SK E&C), noted a report by the Korean news agency Pulse. Other banks that will provide loans to the cons
July 14, 2016 Read time: 2 mins
A South Korean consortium is in line for a US$75 million loan from the Asian Infrastructure Investment Bank (AIIB) for a project in Kazakhstan.

The $900 million project around the city of Almaty will see development of a 66km highway with eight intersections and 21 bridges, according to a report in the Korea Herald.

The consortium consists of Korea Expressway and SK Engineering and Construction (SK E&C), noted a report by the Korean news agency Pulse.

Other banks that will provide loans to the consortium are Islamic Development Bank, International Finance Corporation as well as European Bank for Reconstruction and Development (EBRD).

Almaty is Kazakhstan's largest city and has a population of around 1.5 million people. It is in the foothills of the Trans-Ili Alatau mountains and was the capital city until 1997. It remains Kazakhstan's trading and cultural hub while the capital is now Astana.
Finance & Funding

Related Content

  • Kazakhstan announces infrastructure investment programme to 2020
    April 2, 2015
    Kazakhstan’s deputy minister for investments and development Zhenis Kasymbek has said that about US$20 billion will be invested in development of all types of transport infrastructure by 2020. The main funds will be allocated for the Caspian region, in particular for projects to improve connections to Azerbaijan, Georgia and Turkey. Apart from road infrastructure, money will be invested to construct the Beyneu-Zhezkazgan railway and development of the Altynkol-Khorgos railway section in the direction of
    Read More
  • Kazakhstan contract awarded to consortium
    June 5, 2018
    A consortium will handle the contract to build a new beltway project for Kazakhstan’s capital, Almaty. The US$730 million project will be carried out by the consortium, which comprises the South Korean firms SK Engineering & Construction (SK E&C) and Korea Expressway and the Turkish contractors Makyol Group and Alarko Holding. The contract has been awarded under the build-operate-transfer model as a 20-year deal.
    Read More
  • Kazakhstan’s London road show woos consortia for Almaty ring road
    March 2, 2015
    Kazak and EBRD officials visited London to highlight the possibility of a public-private partnership under the country’s revised PPP legal framework. David Arminas reports. To build a road, you go on the road, and that is what Kazakhstan did in London in mid-December. Representatives of more than 100 organisations, a mix of construction companies and financial institutions, attended the roadshow-style presentation to attract foreign capital for BAKAD, the Almaty Ring Road Concession. The message was that Ka
    Read More
  • Kazakhstan highway being handled by consortium
    February 12, 2018
    An international consortium has been formed that will handle a major highway project in Kazakhstan. Worth US$730 million, the consortium’s contract is to build and operate a new tolled ring road around the capital, Almaty. The construction consortium comprises the Turkish contractors Alarko and Makyol, SK Engineering & Construction and Korea Expressway. The funding package for the project meanwhile is being provided jointly by the International Finance Corp and European Bank for Reconstruction and
    Read More

Highlighted Content