ASTANA, Kazakhstan, January 27. The Kazakh side
has proposed considering the construction of Alatau City as a
potential platform for implementing investment and infrastructure
projects on energy transition with the participation of Korean
business, Trend
reports via the Kazakh Ministry of Energy.
The proposal was voiced during a meeting between representatives
of Kazakhstan’s Ministry of Energy and the Export-Import Bank of
Korea (Korea Eximbank), where the parties discussed prospects for
cooperation in the field of energy transition.
During the meeting in Astana, the Korean side presented the
Economic Innovation Partnership Program (EIPP), outlining its
objectives, implementation mechanisms, and stages, as well as the
role of Korea Eximbank as the program coordinator and a potential
financial partner for projects developed under EIPP.
It was noted that EIPP is a grant-based program of the
Government of the Republic of Korea aimed at developing public
policy frameworks, master plans, and feasibility studies, with a
subsequent transition to financing infrastructure projects.
“For Kazakhstan, the key priorities are sustainable development
of the energy sector, improving energy supply reliability, and
attracting international financing. The EIPP program is of
practical interest in terms of preparing high-quality innovative
project solutions and further implementing infrastructure
initiatives,” Vice Minister of Energy Ilyas Bakytzhan said.
As part of discussions on the practical implementation of energy
transition investment projects, the Kazakh side proposed Alatau
City as a potential site for the realization of investment and
infrastructure initiatives involving Korean companies.
At the same time, interest was expressed in expanding
cooperation with the Korean side in the development of a Just
Energy Transition Partnership (JETP) investment platform. The
platform is expected to focus on structuring, supporting, and
financing projects aimed at developing and modernizing energy
infrastructure, as well as introducing advanced technological and
digital solutions.
The Korean side expressed readiness to consider the proposal
within the framework of further joint elaboration of project
initiatives under the EIPP program.
Zhetygen village officially transitioned into Alatau city in
January 2024. The city is envisioned as a cutting-edge digital hub,
with a projected population of up to 2 million by 2050.
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