Location: Mangistau region, Western Kazakhstan
Sector: Rail and Road Connectivity
Source of funding: National Fund of Kazakhstan; Kazakhstan Temir Joly
Total cost: USD 280 mln
Implementer: n/a
Start (of construction): 2015
Planned completion: 2018
INVESTORS SUMMARY
National Fund of Kazakhstan - The government of Kazakhstan created the National Fund of the Republic of Kazakhstan in 2000 in order to manage oil revenue more effectively. Tax revenues from certain oil and gas companies accumulate this fund. The list of oil and gas companies updated by the government of Kazakhstan. Information about revenues and expenditures of the fund is provided by the central bank of Kazakhstan and by the Ministry of Finance of Kazakhstan.The National Fund was created in 2000 to serve as a cushion to ensure that Kazakhstan’s economy remains stable in the face of price swings in oil, gas and metals.
Kazakhstan Temir Joly - The republican state enterprise “Kazakhstan temir zholy” was established by an Act of the Government of the Republic of Kazakhstan dated January 31, 1997 No. 129 “On reorganization of the railway enterprises of the Republic of Kazakhstan” by merging the republican state enterprises: railway administration of Almaty, railway administration of Tselinnyy and railway administration of the West Kazakhstan. The purpose of merging was optimization of management structure of transportation process and elimination of excessive links, financial and economic improvement of railway industry. By transporting, creating logistic services, developing national infrastructure and new branches of economy, NC KTZ JSC makes a significant contribution not only to the development of national transport and logistics system, but also to the development of international transport passages and transport and logistics services on the Eurasian continent.
DESCRIPTION OF THE PROJECT
The Kuryk project is aimed at expanding possibilities of transport and logistics flow through the Caspian Sea, located on the "Silk Way" between Europe and China. Having a profitable strategic location, the Port's project will shorten the time of cargo transportation across the sea and increase volumes of transportation to the countries of near and far abroad. The port, on the Caspian Sea in the Mangystau region, was put into service in December 2016 and began operating the following March. Kuryk has subsequently become a key component in the country’s transformation into a Eurasian continental transport and logistics hub. The port is also expected to stimulate freight shipments to Europe and the Middle East via Azerbaijan and Iran.
THE PURPOSE OF THE PROJECT
LINKS
1. https://kuryk.kz/en/kuryk-project.html
2. https://astanatimes.com/2019/02/kuryk-seaport-to-boost-shipment-capacity/