Almaty, 17 November 2011. The Eurasian Development Bank (EDB) will provide a US $44-million loan for the construction of a hotel and office estate in Astana by a Russian investor. A respective agreement was made in Moscow today between the EDB and Astanapromstroi-M (a subsidiary of Mospromstroi), which is implementing this project in Kazakhstan. The loan will be provided for ten years.
The documents were signed by Gennady Zhuzhlev, Deputy Chairman of the EDB Executive Board (on the right), and Alexei Petukhov, Director of Astanapromstroi-M.
The estate to be built in Astana will include Marriott hotel facilities and, in addition, host exhibitions, conferences and other business events. The hotel will have 283 rooms. Construction is being performed by Kazakh contractors based on tenders.
“Astanapromstroi-M has been set up by Mospromstroi specifically for this project,” Alexei Petukhov said. “The project is being implemented now and concrete work has been almost finished (this will be a 28-storey building). Until now, we as the initiators of construction financed it on our own.”
“This project will promote the development of the market economy infrastructure in the region, which has a demand for hotel services and offices,” Gennady Zhuzhlev said. “We believe that it will help expand mutual investments and, as a result, create a Kazakh-Russian group by organising a hotel network in the EDB member states.”
The estate is located in Yesil District, Astana’s new administrative centre (Dostyk St., near old airport).
Additional Information
Mospromstroi constructs and reconstructs hotels, large industrial facilities, public and office buildings, housing, and health and sport facilities. It accounts for almost a third of Moscow’s construction market. The company has built world-class hotels such as Marriott Grand Hotel, Marriott Royal Aurora, Marriott Tverskaya, Lotte Hotel, Holiday Inn Lesnaya, Holiday Inn Suschevsky, and the Krasnaya Presnya International Trade Centre.
