Kazakhstan to invest $20bn on new Silk Road land route

New Silk Road route

New Silk Road route

Silk Road: Kazakhstan is planning to invest more than $20bn on its transport sector over the next five years in a bid to become the main transit country between China and Europe on the new Silk Road, its Deputy Minister of Investment and Development Zhenis Kasymbek told RIA-Novosti last week. “The new economic policy of Kazakhstan prioritises the development of transport infrastructure and logistics,” he said. “In 2014,the government invested more than $2.5bn, and between 2015 and 2017 it will allocate a further $3bn each year from the National Fund. Overall, we plan to invest over $20bn by 2020.”
The volume of trade between China and Europe is expected top 170m tons by then and, while majority of that trade has historically been shipped by sea Kazakhstan wants to promote land transportation across its territory.

Source: AKIpress