Kazakhstan launches $14.3 billion People's Construction drive to 2029

Kazakhstan is preparing a nationwide construction drive that will direct nearly 6.5 trillion tenge (US$14.3 billion) toward infrastructure development through 2029, as President Kassym-Jomart Tokayev calls for a new phase of economic modernization.

The initiative, known as Khalyktyq Qurylys, or the People's Construction program, will cover roads, airports, railway stations, power plants, hospitals, schools and other public infrastructure. Tokayev has designated 2027 as the Year of Nationwide Large-Scale Construction.

First Deputy Prime Minister Nurlan Nalybayev announced the funding plans at a November 4 government press conference. He said 262 projects worth 1.5 trillion tenge (US$3.3 billion) have been approved through the Infrastructure Development Fund, and 497 billion tenge (US$1.1 billion) has been allocated for 122 projects. Separately, the Samruk Kazyna board, chaired by Prime Minister Olzhas Bektenov, reviewed 69 major investment projects worth 43.8 trillion tenge.