Kazakh President
Kassym-Jomart Tokayev is currently on a working visit to the U.S. In New York,
the Head of State is scheduled to address the general debate of the 78th
session of the UN General Assembly, and take part in the Central Asia – U.S.
Summit. Additionally, President Tokayev is holding meetings with heads of
transnational companies. Particularly, at a meeting with Wabtec President and
CEO Rafael Santana, the parties discussed the prospects for cooperation as part
of the reconstruction of Kazakhstan’s railway industry. The global transport
and logistics leader is set to invest about $1 billion in the domestic sector.
Projects are currently being worked out to launch the production of locomotives
using hydrogen technology in Kazakhstan. Furthermore, the Head of State held a
meeting with Citigroup’s Chief Executive Officer Jane Fraser. President Tokayev
commended the role of the U.S. financial conglomerate in connecting the AIFC
with global investors and facilitating the digital transformation of the
financial sector. He also welcomed Citigroup’s plans to finance transport and
logistics projects.
“With funding from
Citibank, Wabtec will manufacture 240 new locomotives for our country. This
will greatly contribute to the development of the Middle Corridor, as
highlighted by the Head of State. The project cost is estimated at $950
million. As previously mentioned, the Kazakhstan Temir Zholy railway company has the opportunity to
replace around 15 percent of its locomotives with new ones. Citibank
Corporation is providing a $900 million loan, with the US EXIM Bank acting as
the guarantor. This matter will be discussed in the U.S. Congress. This
demonstrates our openness and interest in foreign investments, including those
from the U.S.,” said AIFC Governor Renat Bekturov.
Editor: Aizhan
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