Location: Nur-Sultan, Kazakhstan
Sector: Rail and Road Connectivity
Source of funding:
80% is financed by Publicly guaranteed loan from China Development Bank.
20% is financed by the consortium (China Railway №2 Engineering Group Co., Ltd, Beijing State-Owned Assets Management Co., Ltd. and China Railway Asia–Europe Construction Investment Co., Ltd.)
Total cost: USD 1.887 bln
Implementer: N/a
Start (of construction): 2015
Planned completion: 2019
INVESTORS SUMMARY
China Development Bank (CDB) was founded in 1994 as a policy financial institution under the direct leadership of the State Council. It was incorporated as China Development Bank Corporation in December 2008, and officially defined by the State Council as a development finance institution in March 2015. CDB provides medium- to long-term financing facilities that serve China’s major long-term economic and social development strategies. By the end of 2018, its assets grew to RMB 16.2 trillion, a balance of loans of RMB 11.68 trillion. Since 2018, CDB has a representative office in Nur-Sultan, Kazakhstan.
China Railway n2 Engineering Group Co Ltd was founded in 1998 and is headquartered in Beijing, China. The Company's line of business includes providing general contracting services such as constructing bridges and tunnels.
Beijing State-Owned Assets Management Co Ltd rises in response to reform tides of state-owned assets management system throughout Beijing. Its predecessor was “Beijing State-owned Assets Operation Co., Ltd.” which was founded in 1992 and affiliated to Beijing Municipal State-owned Assets Bureau.
China Railway Asia-Europe Construction Investment Co Ltd operates as an investment company since 2015 from Beijing. The Company invests in real estate industry, individual private property, infrastructure construction, and other related industries. China Railway Construction Investment Group offers services in China.
DESCRIPTION OF THE PROJECT
This project solves the problem of public transportation in Astana. Because the project is expensive, the Chinese consortium claims that it is highly unlikely that they will get a return on investment anytime soon. Therefore, they claim that this project is more of a public relations move to attract future clients. According to the city administration, the construction of LRT will enhance the image of the capital, provide the residents and visitors with the necessary mobility, comfort and safety, and reduce the time of travel. The system the length of 22.4 km from the international airport of Astana to the new railway station will have 18 stations, one depot, 19 units of rolling stock, technical speed of which is 40 km / h, passenger traffic - 83 thousand people a day. It also includes a full range of life support systems and management.
Branded as a BRI project under the Nurly Zhol programme. The project was launched under the Loan Agreement between Astana LRT JSC and the State Development Bank of China in 2015.
THE PURPOSE OF THE PROJECT
LINKS
1. https://www.kazpravda.kz/en/news/economics/chinese-companies-to-help-build-lrt-in-astana?print=yes
2. https://www.railwaypro.com/wp/astana-light-rail-to-be-constructed-by-chinese-companies/
3. https://astanatimes.com/2017/10/first-pictures-of-light-rail-train-system-in-astana-revealed/