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Nine agreements worth $1.3bn were signed in London with international companies to develop the city of Alatau, the government said (kursiv.media). Education and healthcare projects are being explored with British partners. Potential participants include the University of Exeter, Brighton College and AstraZeneca.
What happened
The agreements were signed following the Alatau City Investment Roundtable, held as part of a presentation of the city to overseas investors. Representatives from 70 companies, funds, banks and expert organisations took part, including JPMorgan Chase, BP and Brookfield Asset Management.
Deputy Prime Minister Kanat Bozumbayev presented Alatau’s development concept and opportunities for investors. Participants also discussed the rules for operating within the special territory and the creation of an investment court applying the principles of English law.
International law firms Norton Rose Fulbright, Reed Smith and Boies Schiller Flexner took part in discussions on the legal system. Executives from the London Stock Exchange, banks and investment firms explored ways to raise capital for energy, transport and utility networks.
What this means
Education and healthcare emerged as two areas of talks with British partners. The possibility of opening educational institutions jointly with the University of Exeter, Brighton College and Repton Group is now being explored.
Pharmaceutical company AstraZeneca and medical tourism company Crescent Meditours are discussing the development of healthcare infrastructure. Other areas of cooperation include attracting investment and scientific exchange.
For infrastructure developments, participants considered project financing — raising money for specific projects. They also discussed the involvement of international financial institutions in the city’s development.
Which projects are already in Alatau’s plans
Alatau’s investment portfolio includes 67 projects worth a total of $6.9bn. Their implementation is expected to create around 55 thousand jobs. These figures cover the city’s entire portfolio.
Meanwhile, 28 utility and transport infrastructure projects worth 35.3bn tenge are being implemented in Alatau. These form a separate strand of the city’s development alongside efforts to attract investors in education and healthcare.
Another project is the mixed-use Iconic Complex. The foundation stone for the city’s first skyscraper was laid on 26 October at a ceremony attended by Kanat Bozumbayev.
