As part of his working visit to the Republic of Korea, Deputy Prime Minister of the Republic of Kazakhstan Kanat Bozumbayev held meetings with the management of Korea Electric Power Corporation (KEPCO), Lotte Hotels & Resorts, Doosan Enerbility, and the Global Green Growth Institute (GGGI). The parties discussed the participation of Korean companies in the implementation of infrastructure and investment projects in Alatau City.
During the meetings, Kanat Bozumbayev highlighted the high level of strategic partnership between Kazakhstan and the Republic of Korea, as well as Kazakhstan’s interest in attracting advanced technologies, investment, and international expertise for the development of the new city.
During the meeting with KEPCO, the parties discussed prospects for cooperation in the development of Alatau City’s energy infrastructure.
The meetings with the management of Doosan Enerbility and GGGI focused on the development of Alatau City’s own power generation capacity. The development of in-city generation is being considered as one of the key instruments for ensuring reliable energy supply to Alatau City, taking into account the projected growth in population, industrial activity, and new investment projects.
The development of tourism and hospitality infrastructure was also discussed. In particular, Lotte Hotels & Resorts and the Kazakh side discussed the potential development of a multifunctional complex in Alatau City featuring an L7 by Lotte hotel. The project, with an estimated investment value of more than USD 200 million, is expected to include a 180-room hotel, office space, and residential apartments.
Following the meetings, the parties agreed to continue joint work on the projects discussed, including determining appropriate financing and implementation mechanisms. Alatau City Authority will coordinate and facilitate this work together with relevant government bodies and potential partners.
Currently, Alatau City’s investment portfolio comprises 67 projects with a total value of USD 6.9 billion. Their implementation is expected to create more than 55,000 jobs.
Read more: https://primeminister.kz/ru/news/kazahstan-i-vedushchie-koreyskie-kompanii-prorabatyvayut-novye-proekty-dlya-razvitiya-alatau-city-31880