EDB, EBRD, IsDB finance $750m Almaty road project in Kazakhstan
The Eurasian Development Bank, European Bank for Reconstruction and Development, and Islamic Development Bank have agreed to finance the construction of the $750 million Big Almaty Ring Road in Kazakhstan.
The Eurasian Development Bank will provide $95 million towards the total cost.
The project is being implemented under a 20-year build-operate-transfer concession agreement between the Ministry of Industry and Infrastructure Development of Kazakhstan and a consortium of four companies: Alsim Alarko Sanayi Tesisleri ve Ticaret A.Ş., Makyol İnşaat Sanayi Turizm ve Ticaret A.Ş., SK Engineering & Construction Co., Ltd. and Korea Expressway Corporation.
The toll road is expected to redistribute traffic in and around Almaty, direct transit traffic to bypass the city, improve transport services, reduce environmental impacts, increase the speed of traffic, and improve road safety. The 66km road will have four or six lanes at various sections. The project will also build bridges, interchanges, toll booths, and other necessary infrastructure. The estimated traffic speed is up to 150km per hour.
