Turkey's TAV Airports Holding to invest $362 mln in Almaty Airport development by 2030

ALMATY. May 6 (Interfax) - TAV Airports Holding (Turkey), the owner of Almaty Airport, will invest $362 million in its development from 2025 to 2029, the Kazakh Transport Ministry's press service said.

The ministry and JSC Almaty International Airport have signed a cooperation memorandum outlining investment and measures aimed at further developing the airport, the press service said.

"The investor will reconstruct the runway, build a new apron for cargo carriers, renovate the domestic terminal, modernize and digitize existing cargo warehouses, construct an airport hotel and implement other measures to improve airport operations," it said.

The signed agreement also focuses on improving working conditions for airport employees. Among the corporate initiatives the investor will implement are raising staff salaries by an average of 25% within 12 months and establishing a medical center. Additionally, the investor will create at least 600 new jobs at the airport this year and launch a specialized training center on its premises, accredited by ACI (Airports Council International).

TAV Airports owns 100% of Almaty Airport's shares.