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

05 october 2011, 16:55
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KTZ Head Askar Mamin. ©Yaroslav Radlovsky
KTZ Head Askar Mamin. ©Yaroslav Radlovsky
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.

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