BAKU, Azerbaijan, August 26. The investment portfolio of Kazakhstan's Alatau City has expanded to 67 projects with a total investment volume of about $6.9 billion and the potential to create around 55,000 jobs, the Kazakh Prime Minister’s press service said.
The figures were presented at a meeting of the Alatau City Council chaired by Prime Minister Olzhas Bektenov, where the government reviewed the implementation of key projects in the new city, infrastructure development, the special legal regime and efforts to attract investment.
Bektenov noted that President Kassym-Jomart Tokayev has identified the Alatau City project as being of strategic importance and potentially capable of taking the country's development to a new level.
Chief Executive Officer of Alatau City Authority Alisher Abdykadyrov reported on the progress of the projects.
According to him, currently, the investment portfolio of Alatau City has been expanded to 67 projects with a total investment volume of about $6.9 billion and the potential to create around 55,000 jobs. Several major projects have already entered the active implementation stage.
These include PepsiCo and Sunny Paper, while work has also begun on production and logistics projects by Mars Petcare KZ, Griffin Logopark, DanaFlex and G-Trans Service.
Preparations are underway for the construction of Iconic Complex, one of the city's flagship projects. The KIND K-Smart Town project is also moving forward.
A concept for the integrated development of a 330-hectare area has been prepared, with a total planned floor area of 5.3 million square meters. The master plan and feasibility study are expected to be completed by the end of 2026.
The city is also working to attract a new group of major investors. Potential projects include Full Vision Capital projects in sustainable aviation fuel and green energy, a branch of the KAIST research institute, CIMC projects in logistics, data centers and digital infrastructure, and a high-tech agricultural complex by Sinomach.
Separate agreements have also been reached on a Kazakh-Korean joint investment fund, a production and logistics complex by Hyundai Green Food, the involvement of Lotte Hotels & Resorts in the Iconic Tower project, energy projects with Doosan Enerbility, urban air mobility with Korea Airports Corporation, as well as smart mobility and hydrogen technologies with Hyundai Motor Company.
Another major area is the development of Alatau Crypto City. Together with the National Bank of Kazakhstan, the authorities have prepared the Tokenization by Default concept. A total of 43 international and Kazakh companies have confirmed their interest in participating in tokenization projects.
Projects with a combined volume of up to $10 million are planned to be launched by the end of 2026. Infrastructure development remains another priority for Alatau City. A total of 26 infrastructure projects are planned.
Construction and installation work has begun on the reconstruction of the Kokpa-1 substation. Some water supply and wastewater projects are nearing completion, while contractors have been selected for the remaining projects. The city's road infrastructure plans include the medium repair of 61.2 km of roads and the construction of 15 km of new roads.
Engineering networks, transport, social and digital infrastructure are expected to be developed ahead of demand. Financing will combine budget funds, public-private partnership mechanisms, and private and quasi-public investment.
A package of documents regulating business development, digital assets and other areas is expected to be adopted by the end of the year. The authorities are also preparing a strategic master plan for the city's development through 2040 and a detailed plan through 2055, with international companies ARUP Group and BCG involved in the process.
Following the meeting, Bektenov instructed relevant authorities to ensure the further practical implementation of the projects and compliance with established deadlines for the key areas of Alatau City's development.
