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EBRD Supported BAKAD Road Project in Kazakhstan Reaches Financial Closure

Infra News - Published on Thu, 13 Aug 2020

Image Source: BAKAD Road Project EBRD
The European Bank for Reconstruction and Development has played a major role in organising financing for the construction of a 66-kilometre ring road BAKAD project around the city of Almaty and brought the deal to a financial close, making it the largest public-private partnership project in both Kazakhstan and Central Asia. The financing package of USD 585 million consists of an A-loan of USD 225 million for the EBRD’s own account, B-loan of USD 125 million syndicated to Bank of China USD 100 million and PGGM USD 25 million, as well as parallel loan facilities of USD 135 million by the Eurasian Development Bank and of USD 100 million by the Islamic Development Bank.

The largest infrastructure project in Kazakhstan outside the oil and gas sector will help remove a major transport bottleneck in Almaty and increase the transit throughput capacity, while reducing local air pollution.

A Turkish-Korean consortium, formed by Alsim Alarko Sanayi Tesisleri ve Ticaret AS., Makyol Insaat Sanayi Turizm ve Ticaret AS, Korea Expressway Corporation and SK Engineering & Construction Co Ltd, was awarded a 20-year concession to construct, operate and maintain the BAKAD road. It will be responsible for the construction of 20 bridges, 8 interchanges and 22 overpasses.

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Posted By : Yogender Pancholi on Thu, 13 Aug 2020
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