New Construction market report from Business Monitor International: "Kazakhstan Infrastructure Report Q3 2012"
Boston, MA -- (SBWIRE) -- 07/20/2012 -- BMI View: Kazakhstan's construction industry is forecast to post strong growth in 2012, driven by demand for the country's resources. Year-on-year (y-o-y) growth is at 6.0% for 2012 rising as high as 9% by 2014. The industry value is expected to increase from US$15.2bn in 2012 to US$29.2bn by the end of our forecast period in 2016. Despite strong growth figures, long-term political stability does raise some potential issues for the country.
Key developments in Kazakhstan's infrastructure industry include:
- The manufacturing division of General Electric has signed a memorandum of understanding to build a US$90mn diesel manufacturing plant in Astana, Kazakhstan. GE Transportation will undertake the project as a joint venture, in conjunction with KTZ and TransmashDiesel. The plant is to produce 400 Evolution Series engines annually, with operations to begin before the end of 2013.
- The World Bank has announced that it will provide a US$1.068bn loan to Kazakhstan's government for its East-West roads project. This will see the construction of a new road between Almaty and Khorgos that will be 13% shorter than the existing one. The project aims to improve transportation along the Western Europe-Western China road corridor, thereby facilitating trade.
- Kazakhstan's government has announced that it intends to collaborate with Malaysia to develop the former country's infrastructure. Work in the pipeline comprises public transport facilities and 20 new hospitals.
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While we acknowledge its vast economic potential and the concurrent opportunities for investors, we remain concerned over Kazakhstan's long-term political stability. Political power is concentrated in the hands of the 72-year-old president, Nursultan Nazarbayev, and the country's investment appeal could be undermined if no clear process for his succession materialises.
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