Kazakhstan to invest USD15 billion in roads construction in nearest 6 years

Taking the floor at the  New Silk Way Transport and Logistics Business Forum, minister of transport Marat Karabayev spoke on key projects of the sector’’s development until 2030, Kazinform reports.

“The Transcaspian International Transport Route may increase its capacity by 5 times. Cargo is transported from China to Europe via this route within 18 days. This is the shortest route between China and Europe,” says the minister.

In his words, the cost of cargo transportation via this corridor will not change in the nearest 5 years.

“The railways administrations of Azerbaijan, Georgia, and Kazakhstan set up a joint enterprise, which functions as a transportation operator along the entire route. The cost of transportation has been locked in.This is the factor that attracts cargo companies. The price will not be changed within five years,” Karabayev said.

According to him, Kazakhstan intends to invest in road infrastructure, to receive a maximum profit from cargo turnover between China and Europe.

“We plan to build and reconstruct 5,000 kilmeters of new roads in the nearest 6 years. The total volume of investments is expected to reach 15 billion US dollars. All of this is done to make Kazakhstan a full-fledged transit hub between China and Russia, China and Europe,” he explained.