China to allocate USD 600 mln for development of industrial zones of «Khorgos - East Gate

ASTANA. KAZINFORM - China will allocate about 600 USD mln for development of logistics and industrial zones of "Khorgos - East Gate" Special Economic Zone, deputy director of "Kazakhstan Temir Zholy" JSC Branch "Transport Logistics Development Center" Abdur-Rashid Sakenov told at the CCS press conference.

"The allocated 600 million US dollars is a result of the signed memorandum on cooperation with China. The investments are coming directly from Jiangsu province, which is our gate to Southeast Asia. We plan to invest these funds for development of two spheres - logistics and industrial," A. Sakenov said.

He also told that China was interested in the import of raw materials from Kazakhstan. "These funds will be used for establishment of plants on processing of our raw materials in the territory of Kazakhstan in the industrial zone. Then, the products will be shipped to China," he informed.

"Khorgos - East Gate" Special Economic Zone is one of the biggest infrastructural projects of the new economic policy "Nurly Zhol" initiated by the President of Kazkahstan.