BAKAD toll road Kazakhstan

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The project entails the first PPP toll-road concession in Kazakhstan. BAKAD Investment and Operation Limited Liability Partnership is the project company set up to develop and operate the 66 km toll-road north of City of Almaty. The total cost of the project is $742.6 million. The concession has been awarded to the sponsors Alsim Alarko and Makyol Insaat from Turkey and SK Engineering and Construction (SK) and Korean Expressway Corporation (KEC) from Korea. The total equity is $157.6 million. The Islamic Development Bank (IDB) together with other multilateral co-financiers (EBRD and EDB) and commercial banks (Bank of China and Intesa Sanpaulo) participated in providing joint funding of $585 million. BAKAD has a 20-year concession awarded by Republic of Kazakhstan to a joint consortium of Turkish and Korean companies for financing, construction, operation, and maintenance of the project. The ring road will have 4 lanes in the first and the last sections with a length of 9km and 6 lanes in all other sections with a total length of 57km. Additionally, it will include 21 bridges, 19 viaducts and other elevated structures. The signing of the financing took place at Nur Sultan, Kazakhstan on 12th February 2020. The Financial Close was reached on 6 August 2020. https://www.isdb.org/news/isdb-finances-the-first-public-private-partnership-toll-road-concession-in-kazakhstan