BAKU, Azerbaijan, September 15.
South Korea's Korea Overseas Infrastructure & Urban Development
Corporation (KIND) will participate in developing the master plan
for Kazakhstan's Alatau Smart City project, according to the
presidential press service.
The agreement on the development of the master plan
was exchanged between Alatau City Authority and KIND following a
meeting between President of Kazakhstan Kassym-Jomart Tokayev and
KIND President and CEO Kim Bokhwan in Seoul.
The parties also exchanged a memorandum of
understanding between Caspian Group and KIND and a strategic
agreement between Kazakhstan's Qazaqstan Investment Corporation and
KIND.
During the meeting, Tokayev noted KIND's role in
developing investment cooperation between Kazakhstan and South
Korea and highlighted the company's previous participation in the
implementation of the Big Almaty Ring Road (BAKAD) project.
The talks focused on prospects for KIND's
participation in the development of Alatau City. Tokayev noted the
project's potential and called for active participation by Korean
companies in infrastructure and investment initiatives in the new
city.
The President also invited KIND to participate in
Kazakhstan's large-scale plans to modernize social and transport
infrastructure.
In turn, Kim Bok-hwan highlighted Kazakhstan's role
as a transport and logistics hub in Eurasia and expressed readiness
to contribute to strengthening economic cooperation between the two
countries.
The sides also discussed the establishment of a
Kazakh-Korean joint investment fund to attract Korean capital and
technology to infrastructure and energy projects in Kazakhstan.
KIND is an organization established in June 2018 by
the government of the Republic of Korea in accordance with the
Overseas Construction Promotion Act enforced on the 25th of April
2018, to proactively support global Public-Private Partnership
(PPP) business.
