The Almaty region may lack sufficient local funding to move forward with the construction of Alatau, a planned new city near Almaty, according to Senator Zhanbolat Zhorgenbayev.
Zhorgenbayev revealed that by the end of 2023, the Almaty region’s debt had reached approximately $32 million. As a result, several regional projects had to be delayed until 2024. Under these financial constraints, the construction of Alatau appears increasingly uncertain.
To address the shortfall, the senator proposed allocating additional funds from the national budget to support the Alatau development plan. Key priorities include building roads and infrastructure, constructing hospitals and schools and enhancing social support programs for the region’s residents.
«The creation of Alatau offers Kazakhstan a rare opportunity to demonstrate its ability to successfully execute a large-scale, world-class project,» Zhorgenbayev said. «We must do everything possible to achieve these goals and provide a high quality of life for the residents of this new city.»
Zhorgenbayev also suggested exploring the possibility of attracting private investment to expedite the construction of the new city.
In early 2024, the village of Zhetygen was elevated to the status of a city of regional significance and renamed Alatau by a decree from President Kassym-Jomart Tokayev. The city will become part of a special economic zone, with plans for over 170 projects valued at approximately $24 billion. These initiatives are expected to create 110,000 new jobs. Once fully operational, the projects are projected to contribute $90 billion to the economy.
