In May 2016, CITIC Construction and Kazakhstan State Highway Company signed the “EPC Contract for the Reconstruction of the 764-km Taldykorgan-Ust-Kamenogorsk State Road” and the "EPC Contract for the Reconstruction of the 180-km Usharal-Dostyk State Road". Construction duration is 54 months, and the Export-Import Bank of China provides concessional loans and preferential buyer's credit. The project is an important part of Kazakhstan's "Bright Road" strategy, which will provide an important channel for the connectivity between China and Kazakhstan as well as between Kazakhstan and its neighboring countries.
Following oilfield project, Caspian Sea asphalt project and the CITIC Kazyna fund, the signing and implementation of the reconstruction project is another practical step of CITIC Group in implementing the “Belt and Road” initiative. It will surely lay a solid foundation for the economic and trade cooperation in various fields between CITIC Group and Kazakhstan in the future.
