Kazakhstan has launched a National Project to modernize its energy and utility sectors for the period 2025-2029, with planned investments of 13 trillion tenge (over $24 billion). The initiative aims to upgrade existing infrastructure and construct new power generation, transmission, and water supply systems.
Deputy Prime Minister Kanat Bozumbayev announced the preliminary cost estimate during the “National Project for the Modernization of the Energy and Utility Sectors: Opportunities for Kazakh Business” conference.
According to Bozumbayev, the funds will support the repair and construction of 86,000 kilometers of utility networks and add 7.3 GW in new generation capacity.
“Today, we have established the necessary regulatory framework to ensure long-term and affordable financing from financial institutions. We have now moved to the practical stage of the National Project. This year, pilot investments of around 144 billion tenge ($266 million) have been raised for 48 natural monopoly entities,” Bozumbayev stated.
Financing will be sourced both domestically and internationally. The Kazakhstan Housing Company has already purchased bonds worth 22.5 billion tenge ($41 million) from local administrations in the Karaganda, Pavlodar, West Kazakhstan, and North Kazakhstan regions.
The Development Bank of Kazakhstan is also finalizing assessments for selected projects.
