Aktobe holds international conference on Western Europe-Western China megaproject

16:37, 10 September 2009

AKTOBE. September 10. KAZINFORM /Samal Yendibayeva/ International conference "Western Europe-Western China" transcontinental corridor - new way to Europe: from dream to reality took place in Aktobe today. The organizer is the Ministry of Transport and Communications. The event brought together representatives from Russia, China and European Union, international banks-participants of the project as well as several international organizations.

Within the conference the Kazakh Ministry and International Union of Motor Transport entered into a memorandum "On development of cargo cartage between Asia and Europe and among major world markets through Kazakhstan territory".

As is known the total length of the international corridor makes 8, 445 km. 2, 233 km pass by the Russian Federation. 2, 787 km fall on Kazakhstan and 3, 425 km - on China.

The cost of the project of the Kazakhstan area comprises KZT 825.2 bln. According to the Ministry of Transport the project will be funded from three major sources: KZT 136.1 bln will bee allotted from the national budget. External loans of the international financial institutes will make KZT 3.4 bln. KZT 266.6 bln are expected to be attracted from private investors on a concessional basis.

News Integration Kazinform's Timeline