Astana airport set for $1.1 billion upgrade funded by Emirati company

Terminals Astana Airport Limited, a company owned by the United Arab Emirates (UAE)-based Terminals Holding and registered with the Astana International Financial Centre (AIFC), is set to invest $1.1 billion in the development of Nursultan Nazarbayev International Airport in Astana. The company and Kazakhstan’s Ministry of Transport have already signed a long-term investment agreement, as reported by the agency.    

The agreement includes constructing a second runway, a third passenger terminal and a cargo terminal. The investor also undertakes to establish a multi-functional complex featuring an industrial and logistics zone along with a business cluster, which will include hotels, retail spaces and logistics terminals.

Additionally, Terminals Astana Airport Limited will provide training for the airport staff, introduce digital solutions and automation systems, and upgrade the specialty vehicle fleet.

Terminals Astana Airport Limited is registered with the AIFC, with the UAE-based Terminals Holding-Sole Proprietorship listed as its founder. Notably, a company with a similar name — Terminals Astana Airport Management — previously served as a trustee of the airport in Astana until January.

The trustee agreement between the company and the city’s administration expired on Jan. 7, resulting in the hub’s shares returning to municipal ownership. Although authorities have discussed drafting a new similar agreement, no new information on the matter has been disclosed. The Ministry of Transport has revealed neither the role nor the conditions under which Terminals Astana Airport Limited operates.