Tokayev Pledges $14 Billion for Infrastructure, Sets 2029 Energy Surplus Target

تاريخ النشر : الأربعاء - pm 05:53 | 2026-10-28

Tokayev Pledges 14 Billion for Infrastructure44 Sets 2029 Energy Surplus Target

الأنباط - Tokayev outlined a People’s Construction program to develop social, transport and engineering infrastructure, create jobs and stimulate economic growth. He described it as potentially the largest infrastructure project in the country’s history. "I am deeply convinced that this initiative will provide jobs for hundreds of thousands of people, and our entire nation, especially the younger generation, will benefit from it,” Tokayev said. He characterized the program as a nationwide effort to renew and rebuild civilian infrastructure, but warned that relying solely on state resources would be inappropriate for a project of this scale. "The logic behind the decisions being made is simple: state funds must become a guarantee for attracting private investment,” President Tokayev said. He also highlighted that Kazakhstan’s gold and foreign exchange reserves, along with the National Fund’s assets, have exceeded $130 billion. "The main goal and mission of the National Fund is to carefully preserve and increase the country’s wealth, as well as use it for the benefit of present and future generations,” Tokayev said, noting that the fund had contributed to the country’s financial stability over the years. Roads and air corridors: Kazakhstan’s logistics ambitions Tokayev said global logistics was undergoing a major transformation, with vulnerabilities in maritime routes increasing the strategic importance of land-based transport corridors. According to him, around 85% of freight transported from China to the European continent already passes through Kazakhstan. However, he warned that the country could not afford to remain a passive transit territory. "Being satisfied with the current favorable situation would condemn us to the role of a follower in the future,” Tokayev said. "We must already move toward becoming a full-fledged organizer of international freight flows.” He called for the development of domestic logistics operators, cargo consolidation and distribution centers, and new manufacturing facilities and commercial sites around transport hubs. Tokayev also instructed the government to complete the high-quality reconstruction of all road border crossing points next year. He described the condition of Kazakhstan’s roads as an urgent problem, criticizing central and local executive bodies for shifting responsibility and allowing the issue to remain unresolved. "I repeat: we need very high-quality roads,” he said. "Without quality roads and modern roadside service infrastructure, Kazakhstan cannot claim the status of a global transit corridor or a Eurasian transport and logistics hub,” Tokayev added. Tokayev also highlighted Kazakhstan’s strategic position along major air corridors connecting Europe and Asia, describing it as a significant competitive advantage that the country had yet to fully capitalize on. "For now, enormous revenues are literally flying past our country,” he said, criticizing the lack of tangible progress. He added that Kazakhstan needs to complete several key tasks to establish itself as a major Eurasian transport hub, with full digitalization of the transport sector among its priorities. "In the age of artificial intelligence, managing global transit flows with paper waybills is absurd,” Tokayev said. "And it is the shortest path to nowhere.” Sustainable electricity surplus Tokayev identified electricity supply as a decisive factor in national competitiveness and economic sovereignty, describing the current period as an "era of electricity.” Tokayev said the annual volume of 123 billion kilowatt-hours of electricity was critically insufficient for a country expanding its industrial, construction and agricultural sectors while pursuing economy-wide digitalization and the adoption of artificial intelligence, which would require the construction of data centers. He pointed to the country’s recurring electricity shortages, particularly during winter peak-demand periods, when Kazakhstan buys electricity from neighboring countries at high prices and sells it back in summer at much lower prices. "This simple ‘business’ has been going on for decades,” he said, questioning claims that the arrangement was normal practice in the energy sector. Tokayev also criticized delays in developing new generating capacity, citing the previously halted construction of the Balkhash thermal power plant and delays in bringing generating facilities online in Turkistan, Kyzylorda, Almaty and Ekibastuz. He set a strategic target of achieving a sustainable electricity surplus by 2029. Tokayev instructed the government to update Kazakhstan’s unified long-term energy balance through 2035. New nuclear power projects Tokayev also emphasized the strategic importance of nuclear energy, saying Kazakhstan had made the right decision by supporting the construction of a nuclear power plant in a nationwide referendum. Tokayev described a proposal to establish a state strategic uranium reserve as worthy of serious consideration, saying it could cover the needs of Kazakhstan’s nuclear power plants for the next century. "I believe it is possible and perhaps necessary to begin construction of the Balkhash nuclear power plant as early as next year and sign a comprehensive cooperation agreement to accelerate the start of construction of the Moyinkum nuclear power plant,” he said. He stressed that negotiations must be carefully prepared and aligned with Kazakhstan’s national interests.

https://astanatimes.com/2026/10/tokayev-pledges-14-billion-for-infrastructure-sets-2029-energy-surplus-target/