Kazakhstan Proposes Alatau City As Platform For Energy Projects With South Korea

(MENAFN- Trend News Agency) 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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