Kazakhstan readying $19 bln national project for energy and utilities modernization

ASTANA. Dec 4 (Interfax) - Kazakhstan is readying a national project to modernize energy and utilities infrastructure costing $19 billion at the current exchange rate.

Kazakh President Kassym-Jomart Tokayev has asked Deputy Prime Minister Kanat Bozumbayev to examine and approve project by the end of 2024, Tokayev's press service said.

Bozumbayev reported to the head of state on the progress of the national project, the total cost of which will exceed 10 trillion tenge. The funds for its implementation will be borrowed from the market and partly from the republican budget. The project is to be implemented in the next five years and provide for the renewal of the energy and utilities infrastructure, construction and upgrade of 6MW of power generation facilities.

Bozumbayev also informed the president about new approaches to the implementation of regional policy aimed at eliminating the existing disparities between regions in the provision of social, industrial and utility infrastructure. It is also noted that a regional policy project office will be created under the government to systematically coordinate the implementation of state programs.