Chinese investors planning to build a locomotive plant in Atbasar, northern Kazakhstan, have failed to secure the necessary funding, prompting the government to search for a new investor.
According to Deputy Transport Minister Maksat Kaliakparov, construction of the plant in the Akmola region has been delayed due to the investor’s financial difficulties. His comments came in response to questions raised during a cabinet meeting about why work on the project has not progressed.
«The investor is facing funding issues. As a result, all work at the site has been suspended and we are currently looking for a new investor,» Kaliakparov said.
He added that Kazakhstan currently has enough locomotives, but demand for new ones is expected to grow as the existing fleet ages, potentially encouraging further investment in the project.
«This situation is not unique for private investors. They announce plans, obtain permits and then fail to secure the necessary funds,» Kaliakparov said.
The locomotive assembly plant project was launched in 2024, when a time capsule was laid to mark the start of construction. The facility was expected to produce 100 sections of mainline electric locomotives, 200 sections of mainline diesel locomotives and 60 sections of shunting diesel locomotives.
At the time, the project was valued at about $102.5 million and was to be carried out by Kamkor Lokomotiv with support from regional authorities.
