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News from Kazakhstan

News from Kazakhstan


Artyushenko & Partners is inviting engineers, lawyers and other construction specialists to participate in one of our upcoming event. Dispute Adjudication Board networking by DRBF in Almaty, April 2018.

The aim of this event is to share with local construction specialists with the experience of the Dispute Resolution Board application during the construction, to understand its legal ground, benefits for construction process.

Organized jointly with Ms.Adriana Spassova and Artyushenko & Partners. We will try to organize the mock DAB process. The event will be in English with synchronic translation to Russian. More details are here.

Some recent news from Kazakhstan re real estate and construction below.

Construction of $467.9 million Big Almaty Ring Road to begin this year in southeastern Almaty state.

Turkish and South Korean companies recently has signed a concession agreement to build the Big Almaty Ring Road (BAKAD) project in Kazakhstan. The Turkish firms, Makyol Construction and Alsim Alarko, and South Korean companies -- Korean SK and Korea Expressway Corporation -- inked the agreement to bring the BAKAD project into action, said Olzhas Raev, the investment advisor at Kazakhstan’s embassy in Seoul.

Foreign experts recognized Kazakhstan’s gas sector as the best in the post-Soviet space.

According to Russian analysts, stability and positive dynamics over a long period of time are observed only in Kazakhstan. It is in Kazakhstan that the gas industry has undergone a complete "upgrade" and the largest number of gas projects have been implemented, the fixed assets of the industry have been completely updated, all gas pipelines have been integrated into a single gas transportation system.

Around 20% of all construction works in Kazakhstan was done by foreign contractors.

The executive vice-president of the Shanghai stock exchange (SSE) Liu Shaotong and the vice chairman of the board of NASDAQ Meyer Frucher have visited Astana to meet representatives of the international financial center Astana (IFCA) and to participate in the investment forum Kazakhstan Global Investment Roundtable (A round table on global investments in Kazakhstan).

As a result of tripartite negotiations of NASDAQ along with SSE became the strategic partner and the shareholder of the IFCA (AIX) exchange. During the meetings a number of the documents defining interaction of SSE, NASDAQ with IFCA and the IFCA (AIX) exchange within development of the capital market of Kazakhstan and the region is signed.