The Eurasian Development Bank (EDB) and Eurasian Logistics Park LLP have signed a loan agreement for the construction of a Class A industrial and logistics complex in the Almaty region of Kazakhstan. The loan amounts to 16.6 billion tenge.
The project provides for the construction of two modern warehouse buildings with a total area of 50 thousand square meters to be located by the Big Almaty Ring Road (BAKAD). The complex is scheduled to be commissioned by the end of 2025. The total cost of the project will amount to 22.1 billion tenge.
“The construction of a Class A logistics center in Kazakhstan is the project that reflects our bank’s strategy for the key infrastructure development in Eurasia. In addition to strengthening the logistics capabilities for consumer goods distribution in Almaty, the logistics center under construction has the potential to become a major hub, which will be an important step towards increasing trade volume, optimizing supply chains, and building a single economic space, given that, according to EDB’s estimates, all modern trade formats are expected to grow significantly in the region. Moreover, by 2028, the annual growth of online trade is to amount to 12% with a total number of 91.4 million users. Participation in this project strengthens the EDB’s position as a reliable partner contributing to economic growth and sustainable development of the entire region,” said Nikolai Podguzov, Chairman of the EDB Management Board.
Over the post-pandemic period, the warehouse logistics sector has been rapidly growing worldwide. According to forecasts, by and including the year of 2025, the demand for high-quality storage facilities in Eurasia may exceed 1 million square meters, and about 40 percent of them will be located in Kazakhstan. The construction of logistics centers both on the border and in large cities will help reduce costs and increase the efficiency of supply chains.