A South Korean company Doosan Heavy Industries & Construction has signed an agreement with a Kazakhstani company Karabatan Utility Solutions for the construction of a thermal power station.
During the 4th Caspian Summit President Nursultan Nazarbayev spoke about the opportunities the Caspian Sea opened in terms of transportation and tourism.
The Commission on Aquatic Bioresources of the Caspian Sea has approved the project on preservation and rational use of aquatic bioresources of the Caspian Sea, and sturgeons in particular.
The overall investments are estimated at $3.3 billion. The resort is projected to cater to over 640 000 tourists a year by 2020, with 70% of them being foreigners.