Kazakhstan plans to borrow $2.2 billion for the realization of major investment projects in 2012, Finances Ministerial Board Bolat Jamishev said on Monday, News Kazakhstan reports.
Jamishev noted that there is no need to finance the budget deficit at the moment. But European and Islamic bonds may be emitted if corporations decide to enter the market and a benchmark is set.
Kazakh President Nursultan Nazarbayev ordered the government in his message to the nation for 2012 to start construction of the Zhezkazgan-Beynegu and Arkalyk-Shubarkol Railways and the first module of the Balkhash thermal power plant (1300 MW) for oil refinery at the Atyrau facility and launch of the gas-chemical complex of Atyrau at full power, which would process 5 billion cubic meters from the Karachagnak Field annually. Another plan is to design and realize the gas pipeline system to gasify central regions of the country.
Loans from the National Fund will cover part of the projects.
