On June 23, Kazakh Prime Minister Olzhas Bektenov held a meeting with European Bank for Reconstruction and Development (EBRD) President Odile Renaud-Basso to discuss collaboration on major infrastructure projects ahead of the 37th plenary session of the Foreign Investors Council, The Caspian Post reports citing Kazakh media.
Infrastructure
According to the Prime Minister’s press service, Bektenov and Renaud-Basso reviewed key joint projects, including the construction of a substation in Astana to meet the capital’s growing power demands and boost energy reliability. Another priority is the development of Kazakhstan’s platform for a Just Energy Transition Partnership (JETP), designed to attract green investments in the energy sector.
An agreement was signed between KazAvtoZhol and the EBRD to finance the reconstruction of the 136-kilometer Aktobe-Ulgaisyn road section, part of a 234-kilometer stretch. The upgraded four-lane highway is expected to improve national transit connectivity and ensure transit flow.
Renaud-Basso noted that the EBRD more than tripled its annual investment in Kazakhstan last year, financing 25 projects worth a record $935 million. These included new treatment facilities in Aktobe and the first major public-private partnership hospital project in Kokshetau.
The current portfolio includes 129 active projects totaling over $3.2 billion, 75% of which are focused on sustainable infrastructure.
The EBRD will also support the implementation of projects within the National Infrastructure Plan until 2029.
Pharmaceuticals
Bektenov also discussed expanding domestic medicine production at a meeting with Polpharma Group Supervisory Board Chairman Jerzy Starak.
They reviewed the progress of the project to expand Khimfarm’s plant in Shymkent by constructing new production buildings and laboratory areas. Taking into account market demand, the enterprise plans to develop the production of two billion units of medicines per year under the SANTO Member of Polpharma Group trademark. The project involves a $62.6 million investment and 300 new jobs.
Tuberculosis, chronic viral hepatitis C and liver cirrhosis, malignant neoplasms, diabetes mellitus, mental disorders, diseases of the central nervous system, cardiovascular system have been selected as priority therapeutic areas for the development of local production.
Polpharma has invested over $130 million in Khimfarm, creating more than 1,300 jobs. The facility now produces over 280 generic drugs in 12 pharmacotherapeutic groups and exports to Russia, the Kyrgyz Republic, Mongolia, Uzbekistan, Tajikistan, and Turkmenistan.
