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Will the Almaty akimat take a loan from a Chinese bank to finance the construction of the metro?

Will the Almaty akimat take a loan from a Chinese bank to finance the construction of the metro?

Akim Dosayev responded that one of the most pressing issues we discussed and are focusing on is the development of Almaty's transport framework and the improvement of the ecological situation. At the core of the transport framework is, first and foremost, high-speed public transport. This includes further development of the metro, the creation of light rail transport, and dedicated bus lanes — BRT lines.

“Regarding the metro: with government support, we are exploring the possibility of attracting funding for its development in two directions. The first is the completion of the construction of the section from the 'Kalkaman' station to the 'Barlyk' station (5.3 km). The second is the construction of a 14-kilometer section from the 'Zhibek Zholy' station to the airport. This eastern route will cover a total distance of about 19.5 km, which we plan to construct.

The government has supported the akimat's proposal to provide a special state guarantee for the implementation of this project. Currently, we are working on amendments to the budget legislation so that such projects can be financed from the republican budget. The Mazhilis has already supported us, and we expect the Senate to complete its work. Once the amendments come into effect, we will be able to continue official negotiations with potential creditors.

We are currently negotiating with various financial institutions, such as AFSI, EBRD, the Asian Development Bank, China Eximbank, and the Asian Infrastructure Investment Bank. We are selecting the most favorable conditions. Here, the country’s rating, Almaty’s rating, and the ability to secure the most comfortable lending conditions are important.

Once the terms are agreed upon, we will conduct a competitive selection of contractors, as was done during the modernization of CHP-2 in Almaty. The contractor will be chosen on a competitive basis under the best conditions. Regarding recent statements by a deputy about an allegedly already made decision — this is not true. We continue working negotiations, analyze the proposed conditions, and will publish the results jointly with the Ministry of Finance of the Republic of Kazakhstan,” he replied.

He then commented on the question of whether Eximbank is being considered as one of the potential creditors.

“Yes, Eximbank can be considered as one of the potential creditors. It is possible that we will create a consortium of financial donors. This will allow us to share risks and obtain favorable conditions. No decision has been made yet, but we hope to finalize the financial conditions by the end of the first quarter of 2025,” the city head emphasized.

According to him, a preliminary amount of up to 1 billion dollars has been approved. The akim also responded to the question of the timeline for completing the first line to 'Barlyk' and constructing the second line to the airport in case of receiving the loan.

“Modern construction technologies allow us to avoid the problems we faced earlier. For example, the construction of the 'Saryarka' and 'Baurzhan Momyshuly' stations took 7 years instead of the planned 3.5 years. Since 2020, we have been constructing a section to 'Kalkaman' that is only 1.9 km long.

With the application of new technologies, such as those used in metro construction in China, the work can progress significantly faster. We will select partners who are technologically capable of completing tasks quickly. We cannot afford to delay construction for 5–7 years.

The optimal timeframe from the start of construction is about 3–3.5 years,” said Yerbolat Dosayev.

In conclusion, he noted that both lines will be built simultaneously, without waiting for the completion of one of them.