Kazakh and Polish investors to allocate $120 million for greenhouse in Shymkent
Sine Midas Stroy, a Kazakhstani construction company with Turkish roots, and Fabe Agro, a Polish company promoting sustainable agriculture in Eurasia, will jointly build a greenhouse complex in Shymkent. The total cost of the project is estimated at $120 million.
The news followed negotiations between Agriculture Minister of Kazakhstan Aidarbek Saparov and Ahmet Budan, head of Sine Midas Stroy. During the meeting, Budan revealed that his company is working on launching a large-scale project to build a modern industrial greenhouse in Shymkent in conjunction with Fabe Agro. Once the project is fully implemented, the greenhouse will produce 36,000 tons of tomatoes per year.
«Kazakhstan has a great interest in attracting high-tech investments in the agricultural sector. We are ready to provide comprehensive support to the project, which is aimed at promoting an export-oriented greenhouse industry in Kazakhstan,» Saparov stated, commenting on the project.
According to the agency, the parties have already negotiated the terms of project implementation, the volume of investments, and the obligations of the parties, and plan to formalize these arrangements as soon as possible.
Sine Midas Stroy was founded in 2006 and specializes in road construction in Kazakhstan. The company has participated in major infrastructure projects, including the construction of sections of the Atyrau–Kulsary, Almaty–Korday–Merke and Almaty–Khorgos highways, as well as roads in other regions of the country. In addition, the company won a bid for the construction of a section of the S7 highway in Poland in partnership with Polish firm Fabe Polska. Furthermore, Sine Midas Stroy has implemented several projects in Turkey, including residential buildings, and has also built a business center in Almaty.
According to official data, the company is controlled by Mehmet Budan, a Turkish citizen and likely a relative of company head Ahmet Budan, as well as Banu Imankulova, Dias Kuttygali and Mafura Uandykova.
The second participant in the project, Fabe Agro, is the horticultural division of Fabe Polska, a major road construction company in Poland. According to Fabe Agro’s website, the company was created with a single purpose: to implement a greenhouse project in Kazakhstan, marking the first such project for Fabe Polska. The greenhouse complex is expected to span 144 hectares and include seven greenhouses and a nursery garden. The project will be built under the terms of a public-private partnership.
Separately, another large greenhouse park is being built in Shymkent by Turkish company Alarko Holding. The total investment in the project is estimated at $650 million.
