Kazakhstan to invest $40 billion into transportation sector
By Sara Rajabova
Intending to become the main transit country linking Far East countries to Europe, Kazakhstan is taking measures to develop its transportation infrastructure.
Askar Mamin, president of Kazakhstan’s national railways company Kazakhstan Temir Zholy said investments in transport projects in the country will amount to $40 billion by 2020.
Mamin said the government will implement projects aimed at the removal of all infrastructural restrictions as to increase the country’s capabilities to offer competitive services and increase the volume of shipments, the official website of the Kazakh Premier reported.
The work is currently underway to turn Kazakhstan into a logistics and transit hub in the Eurasian continent, according to the official.
More than 2,500 kilometers of railways have been constructed in Kazakhstan since the country's independence; more than in any other post-Soviet country. At the same time, Kazakhstan is implementing a large-scale program to modernize its transport assets.
Mamin said the country has formed 100 container trains from China’s Lianyungang Port to Central Asia this year, adding that these are new shipments which were previously transported by sea, not by rail.
Zhenis Kasymbek, Kazakhstan’s deputy minister of investment and development earlier said the country plans to make more investments into its transportation industry to become the main transit country between the booming Chinese market and Europe.
The dispersion of natural resources and centers of economic activity make the transport sector most important indeed when it comes to the well being of the national economy, particularly in view of spurring investment in Kazakhstan's promising agricultural sector and regional markets.
The government is providing strong incentives to attract direct investments in all areas of infrastructure, as infrastructure has become a top priority.
Enjoying an advantageous geographic position, Kazakhstan is keen to become part of the new Silk Road project - the idea initiated by Chinese President Xi Jinping.