The European Bank for Reconstruction and Development (EBRD) says it is helping to improve Central Asia’s regional connectivity and boosting the operational efficiency of Kazakhstan Temir Zholy (KTZ or Kazakhstan Railways) by investing up to $125 million in a Eurobond issue by the company of up to $1 billion, which was listed on the London Stock Exchange, Kazakhstan Stock Exchange, and Astana International Exchange.
The EBRD’s investment will help to modernise passenger stations across Kazakhstan, supporting improvements in their safety and operational performance. The updated stations will have higher throughput capacity, modern lighting and significant enhancements for disabled passengers.
Additional infrastructure upgrades financed by the bond will take place along the Trans-Caspian Corridor and will help make rail transportation between Europe and Asia more sustainable. KTZ owns and operates a 16,400-kilometre railway network and manages more than 1,700 locomotives, 46,800 freight cars and 2,300 passenger cars.
The EBRD will also mobilise technical cooperation funds to help KTZ adopt international standards for railway passenger transportation. This will include supporting the firm’s efforts to strengthen its cybersecurity.
Photo: KTZ
