Turkish company to build 5 kindergartens in Semey
UST-KAMENOGORSK. KAZINFORM The Education Department of the East Kazakhstan region entered into a concession agreement with LLP KAZ-AZMECO on building five kindergartens in Semey for 1,290 children, based on public-private partnership principle. 2 mln 639 thousand tenge will be invested in the construction in total.
The project will be implemented as per BOT (Build-Operate-Transfer) scheme. This is a form of project financing, wherein an investor builds and operates a project within 7 years (until the government fully compensates construction expenses), after which the project is transferred into public ownership for further exploitation by a concession owner, based on confidential management for 12 years. The term of concession is 12 years.
The construction of kindergartens on a public-private partnership principle gives a good impulse to the development of a long-term, stable and mutually beneficial business in education, the East Kazakhstan information centre says,