A South Korean consortium is in line for a US$75 million loan from the Asian Infrastructure Investment Bank (AIIB) for a project in Kazakhstan.
The $900 million project around the city of Almaty will see development of a 66km highway with eight intersections and 21 bridges, according to a report in the Korea Herald.
The consortium consists of Korea Expressway and SK Engineering and Construction (SK E&C), noted a report by the Korean news agency Pulse.
Other banks that will provide loans to the consortium are Islamic Development Bank, International Finance Corporation as well as European Bank for Reconstruction and Development (EBRD).
Almaty is Kazakhstan's largest city and has a population of around 1.5 million people. It is in the foothills of the Trans-Ili Alatau mountains and was the capital city until 1997. It remains Kazakhstan's trading and cultural hub while the capital is now Astana.
The $900 million project around the city of Almaty will see development of a 66km highway with eight intersections and 21 bridges, according to a report in the Korea Herald.
The consortium consists of Korea Expressway and SK Engineering and Construction (SK E&C), noted a report by the Korean news agency Pulse.
Other banks that will provide loans to the consortium are Islamic Development Bank, International Finance Corporation as well as European Bank for Reconstruction and Development (EBRD).
Almaty is Kazakhstan's largest city and has a population of around 1.5 million people. It is in the foothills of the Trans-Ili Alatau mountains and was the capital city until 1997. It remains Kazakhstan's trading and cultural hub while the capital is now Astana.
