Head of National Railways Operator reported to President Nazarbayev on the Company’s performance

Net profit of the KazakhstanTemirZholy (KTZ) National Railways Operator as of the end of 2011 is expected at $612.2 million, KTZ Head Askar Mamin reported to President Nazarbayev October 5. “I reported to the Head of State on the Company’s performance for the first 9 months. The plan is exceeded”, President Nazarbayev’s Press Service quoted him as saying. Mamin also reported that “this year Zhetygen-Korgas railway link to China is being completed; Uzen – Turkmenistan border railway link is already complete”. “This December Kazakhstan will see its passenger railway cars production facility launched; this will enable to start high-velocity trains all across Kazakhstan. From 2008 to 2010 the Company boosted railway manufacturing tenfold from $68 million to $680 million», according to Mamin.