Kazakhstan to spend KZT1.2trln tenge of investment on infrastructure modernization
Deputy Prime Minister-Minister of National Economy Serik Zhumangarin told the Cabinet members about the measures to be launched to ensure additional investment, Kazinform News Agency reports.
According to him, the implementation of the National Energy and Utilities Sector Modernization Plan will let ensure surge of investment in 2025.
“The amount of investment under the National Project is expected to exceed 13 trillion tenge in 5 years. This year, some KZT12 trillion tenge of investment will be spent on infrastructure modernization. The National Project is called to contribute to the investment growth, launch of new home-produced goods and manufacturers whose products will be used in construction of the country’s utilities infrastructure,” Serik Zhumangarin said at the Government’s meeting.
He added that the implementation of the National Project will let decrease infrastructure wear and tear, improve its reliability and increase operational efficiency of natural monopoly entities as well as to reduce electricity and heat losses during their transmission.
Earlier, it was reported that Kazakhstan plans to set up two loan guarantee funds to support business.
