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China’s investors interested in constructing airport for Kinderly resort

27 october 2014, 23:26

 China’s investors are interested in constructing an airport to cater to the needs of the would-be Kinderly resort on the Caspian Sea, Kazakhstan’s First Vice Minister for Investments and Development Mr. Zhenis Kassymbek told a Tengrinews.kz journalist.

According to him, the negotiations with the investors are to be completed by the end of 2014. “We are considering prospective investors from China and Turkey (….) Chinese investors willing to construct the airport are asking for tax incentives (…) there are certain complications, but there are also great opportunities (…) I am not ready to voice the names of the companies; however, they have shown a keen interest in the project and are ready to invest (…) However, they want certain guarantees and certain conditions from the Kazakh Government (…) We expect the talks to be over in December”, he said.

He elaborated the investors want the Government to ensure car roads, water sewage systems, water supply and power supply at the sight. “The Government has to invest a certain amount on their own to put in place the most critical infrastructure (…) the amount will be defined when closing the talks with the prospective investors”, he said.

Foreign consultants estimate the potential inflow of tourists to Kinderly at 640 000 people by 2020. Rixos Group, a Turkish investor, has already signed an agreement on cooperation with Samruk-Kazyna Sovereign Wealth Fund. The sides plan to construct 4 and 5 star hotels, an aqua park and a constellation of cottages. The investments into the project are estimated at $3.2 billion.

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