Shymkent boosts industrial development with 4.6tn tenge investment portfolio
Akim (mayor) of Shymkent, Gabit Syzdykbekov, spoke about the city’s investment policy and the development of its industrial zones at the Central Communications Service, Qazinform News Agency reports.
The mayor noted that the city is building two new industrial zones and expanding three existing ones to attract investors and create permanent jobs. Altogether, 300 investment projects worth 900 billion tenge are underway in these zones, expected to generate around 13,000 new jobs.
“In Shymkent, efforts are ongoing to establish a ‘Regional Hub,’ which will provide significant logistical advantages for the southern region. The expansion of the Trade and Logistics Center is scheduled for completion next year. This project will strengthen the region’s food security and create new opportunities for business and trade,” the mayor said.
In addition, the private industrial zone “Standard” has been put into operation. It features specialized small production sites equipped with industrial infrastructure.
“Over the past three years, the city’s economy has attracted more than 2 trillion tenge in investments, 75% of which came from the private sector. The average annual growth rate during this period was 11%,” he added.
Over the next five years, the city plans to attract 6.6 trillion tenge in investments. Currently, a portfolio of 221 projects worth a total of 4.6 trillion tenge has been formed, which will create more than 29,000 jobs.
“Following the investment forum in Astana, the city reached an agreement with the Chinese company Shaanxi Construction Engineering on a 55 billion tenge project to build a 24 MW waste-to-energy plant. Twelve hectares of land near the municipal solid waste landfill have been allocated for the facility,” Syzdykbekov noted.
He also noted that in Shymkent, which hosts one of the country’s three oil refineries, the plant’s production capacity is set to increase from 6 million to 12 million tons by 2030 as part of efforts to develop the petrochemical industry. The preliminary cost of the project is estimated at approximately 3 trillion tenge.
Earlier, Qazinform News Agency reported that the Turkistan region has attracted 1.2 trillion tenge in investments.
