Kazakhstan, South Korea firms eye Alatau City projects
As part of a working visit to the Republic of Korea, Deputy Prime Minister of Kazakhstan Kanat Bozumbayev held meetings with the top officials of Korea Electric Power Corporation (KEPCO), Lotte Hotels & Resorts, Doosan Enerbility, and Global Green Growth Institute (GGGI), Qazinform News Agency reports, citing the Kazakh Government's press service.
The sides discussed the participation of Korean companies in the implementation of infrastructure and investment projects in Alatau city.
During the talks, Bozumbayev emphasized a high level of the Kazakh-Korean strategic partnership and interest in attraction of advanced technologies, investments, and international expertise for the new city development.
“Alatau city is one of the key national projects of Kazakhstan. A special investment and regulatory environment as well as a modern infrastructure are being created for the city. We are interested in a long-term partnership with the leading Korean companies and are ready to explore joint projects,” Bozumbayev said.
A meeting with KEPCO discussed the prospects for cooperation in the development of Alatau city’s energy infrastructure, namely, the participation of the Korean corporation in designing the systems of electricity transmission and distribution, construction of substations, integration with the national energy system and implementation of local power supply systems.
Developing modern energy infrastructure is essential to ensure that new residential, industrial, and commercial facilities in the city are supplied with reliable energy capacity ahead of schedule as they are commissioned.
Issues of developing Alatau City’s own power generation were discussed with the leadership of Doosan Enerbility and the Global Green Growth Institute (GGGI). One of the promising directions under consideration is the construction of a gas‑fired power plant with a capacity of 2×250 MW, designed for a subsequent transition to hydrogen. Doosan Enerbility may act as the project’s technology and EPC partner. Preliminary plans envisage implementation through public‑private partnership.
The creation of Alatau City’s own power generation is being considered as one of the tools to strengthen the city’s energy security, taking into account the planned growth of population, industry, and new investment projects.
A meeting with Lotte Hotels & Resorts focused on plans to build L7 by Lotte, a $200 million multi‑functional hotel complex in Alatau City. The 180‑room project would also feature office space and residential apartments.
Following the meetings, the sides agreed to continue joint work on the projects discussed, including defining mechanisms for their financing and implementation. The Alatau City Authority will coordinate and oversee this work together with relevant government agencies and potential partners.
Currently, Alatau City’s investment portfolio includes 67 projects worth $6.9 billion, with implementation expected to create more than 55,000 jobs.
The projects under discussion will contribute to the comprehensive development of Alatau city,: establishing reliable energy and engineering infrastructure, expanding hotel, business, and commercial facilities. Engagement of international partners and the launch of new investment projects will generate additional jobs, broaden the range of urban services, and create conditions for increased business activity and improved urban environment.
Earlier, Qazinform reported that Alatau City Authority and South Korean technology companies AST Holdings Co., Ltd. and ILJOO GnS Co., Ltd. signed a tripartite Memorandum of Understanding in Smart City and digital technologies. The memorandum was signed in Busan as part of the World Smart City Expo.