Kazakhstan to attract KZT 150 bln investments in housing, public utilities

ASTANA, Aug 08 (Kazinform/APP) : Deputy Prime Minister Kanat Bozumbayev briefed on the progress of the development of the energy and utilities sectors’ modernization national project, Kazinform News Agency reports.
He said the energy and utilities sectors’ modernization national project was approved last December. The Head of State signed the corresponding law on its implementation on July 17.
According to preliminary estimates, it is necessary to attract 13 billion tenge in investments for the repair and construction of 86,000 km of utilities networks and commissioning additional sources of power generation up to 7.3 GW within five years to come.
Funds will be attracted from four sources of financing, including Kazakhstan’s and international financial institutions, second-tier banks, means from the budget and National Fund, and funds of shareholders – business owners.
He added the pilot projects, in particular, 36 natural monopoly entities were approved under the energy and utilities sectors’ modernization national project. As of now, 22 more are being considered.
This year, some 150 billion tenge will be attracted to renovate 8,500 km of networks and replace over 42,000 units of equipment. Next year plans to attract some 1 trillion tenge in investments to repair 9,700 km of networks and replace 46,000 units of equipment.