Tokayev outlines strategically important projects with Chinese companies

Tengrinews.kz - President Kassym-Jomart Tokayev took part in the 8th meeting of the Kazakhstan-Chinese Business Council, held in China, citing Akorda.

Addressing business leaders from both countries, Tokayev outlined several priority areas for cooperation. He noted that the transit capacity of the China–Europe corridor through Kazakhstan is expected to increase fivefold this year.

“First of all, transport and logistics. Kazakhstan, as a close neighbor and reliable partner, fully supports and actively participates in President Xi Jinping’s global ‘Belt and Road’ initiative. Our country accounts for 85 percent of all overland shipments between China and Europe. With the launch of double-track railways on the Dostyk–Moyynty section this year, the transit capacity of the China–Europe corridor through Kazakhstan will rise fivefold.

We are also committed to realizing the potential of the Trans-Caspian International Transport Route. Last year, 4.5 million tons of cargo were transported along this route, up 62 percent from the previous year. Our next target is to increase this figure to 10 million tons,” the President stated.

He highlighted that cargo volumes through the ports of Aktau and Kuryk are steadily growing. Major joint infrastructure projects such as the Kazakhstan-Chinese logistics terminal at the port of Lianyungang and the dry port in Xi’an have already been put into operation.

“For Chinese companies, the use of Kazakhstan’s transit and logistics potential offers tremendous opportunities,” Tokayev emphasized.

Tokayev also underlined that nuclear energy issues were discussed separately with President Xi Jinping. As a second priority, he stressed cooperation in the energy sector.

He announced that construction has begun on a polyethylene plant in the Atyrau region, a large-scale project with an annual capacity of 1.25 million tons and an investment volume of $7.4 billion, being implemented jointly with Sinopec.

Kazakhstan is also interested in the modernization of the Shymkent Oil Refinery with the participation of CNPC. In renewable energy, the country plans to carry out projects with leading Chinese companies such as China Power International Holding and China Energy.

Another major project is the construction of a 160 MW combined-cycle power plant in the Mangystau region, in partnership with China Huadian Corporation.

On September 2, the 8th meeting of the Kazakhstan-China Business Council began in Beijing with the participation of President Kassym-Jomart Tokayev.

Tokayev: China is Kazakhstan’s neighbor by destiny, a close friend, and eternal strategic partner