KPPF, Ministry of Investment and Development of the Republic of Kazakhstan and Asian Development Bank signed the Memorandum of technical cooperation
Memorandum of technical cooperation in implementation of concession projects “Construction and operation of high-speed roads in the South Kazakhstan region” was signed by the Ministry of Investment and Development of the Republic of Kazakhstan, Asian Development Bank (ADB) and Kazakhstan Project Preparation Fund LLP on May 5 in Astana.
The signing ceremony was attended by Roman, Sklyar, the First Vice Minister of Investment and Development; Giovanni Capannelli, Asian Development Bank Country Director for Kazakhstan; and Adil Utembayev, Chairman of the Board of Kazakhstan Project Preparation Fund LLP.
Within the memorandum, ADB will provide financial support to involve international consultants for the preparation of tender documentation for the concession project jointly with Kazakhstan Project Preparation Fund LLP. Also ADB will provide assistance in developing potential of public-private partnership in Kazakhstan, in particular, in training Kazakhstan’s specialists in financial and transport modeling.
According to the memorandum, the amount of provided technical support will be USD 1,8 mln. Also, it is planned to attract private investments in amount of about USD 500 mln. to implement the project.
“Our Fund’s mission is to facilitate infrastructure development of the Republic of Kazakhstan through the provision of structuring and maintaining services for infrastructure projects, including the projects implemented on the basis of PPP mechanism. I’m confident that assistance of ADB’s experts will help us to bring the PPP institute to a new development level”, - Adil Utembayev said at the end of the signing ceremony.
The concession project “Construction and operation of high-speed roads in the South Kazakhstan region” provides the construction of high-speed fourlaning bypasses of the cities of Shymkent and Saryagash, including their transfer to concessionaire’s operation. Also, in order to create a unified high-speed transit corridor it is planned to transfer the existing roads of South Kazakhstan region connecting these bypasses to the concessionaire’s management.