A capsule is installed to mark the start of construction of a new terminal at Almaty International Airport
Almaty, 1 June 2022. Today, President of Kazakhstan Kassym-Jomart Tokayev took part in a ceremony of installing a capsule to mark the start of construction of a new terminal at Almaty International Airport. The ceremony was attended by Nikolai Podguzov, Chairman of the Eurasian Development Bank’s (EDB) Management Board, Amangeldy Issenov, Vice Chairman of the EDB Management Board, and other representatives of the syndicate of lenders.
During the ceremony, Kassym-Jomart Tokayev installed the capsule in the foundation of the future new terminal of Almaty International Airport.
In September 2021, the EDB joined a syndicate of lenders to finance the expansion and modernisation of Almaty International Airport. The investment programme totals US $780 million, including US $40 million to be extended by the EDB. The project is being implemented by a consortium of investors led by TAV Kazakhstan.
The airport’s key infrastructure development plan envisages an upgrade of its facilities and the construction of a new terminal to increase its capacity and the number of flights it serves, add new routes, and improve customer service so that the airport could become a major air hub in Central Asia.
“The expansion and modernisation of Almaty Airport are of strategic importance to both Almaty and the country’s entire air transport industry as it will contribute to sustainable economic growth and to building the Eurasian transport framework by developing international logistics, transit capacity, and connectivity. The project will also have a high social effect as it will create about 1,000 jobs,” said Nikolai Podguzov.
The project also demonstrates the benefits of a partnership among international development banks in the EAEU. The syndicate of lenders includes the Eurasian Development Bank, the Eurasian Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC), and the German Investment Corporation (DEG).
Almaty International Airport is Kazakhstan’s largest air hub servicing many international flights. In 2021, its international traffic increased by 100% and domestic traffic also grew significantly. According to TAV Kazakhstan’s key infrastructure modernisation and construction estimates, the new terminal will boost the airport’s capacity from 7 million to over 14 million passengers. The construction of the new terminal, which will be built to cutting-edge standards, is expected to take two to three years.
The priority objective of the EDB as an international development institution is to ensure stable economic growth in its member states to promote better living standards, environment, and use of natural resources. The new terminal will be the first airport in Central Asia to be certified under the Excellence in Design for Greater Efficiencies (EDGE) programme. The new terminal will be built to EDGE standards for resource efficiency by using high-quality insulation materials, water-saving equipment, and advanced technology to reduce greenhouse gas emissions, noise, light, waste, and air pollution in line with the International Civil Aviation Organisation’s recommendations.
Additional Information:
The Eurasian Development Bank (EDB) is an international financial institution investing in Eurasia. For more than 15 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. The EDB's charter capital totals US $7 billion. Its portfolio mainly consists of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing, and mechanical engineering. The Bank’s operations are guided by the UN Sustainable Development Goals and ESG principles.
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