Turkish, Korean firms to build ring road in Kazakhstan
ASTANA. KAZINFORM Turkish and South Korean companies on Thursday signed a concession agreement to build the Big Almaty Ring Road (BAKAD) project in Kazakhstan, Anadolu reports.
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 Rayev, the investment advisor at Kazakhstan's embassy in Seoul.
Rayev said the construction will begin this year.
He said that the length of the road will be 66 kilometers (41 miles) and it will pass through Karasay, Ile and Talgar districts of southeastern Almaty state.
In addition, seven intersections and 13 overpasses are planned to be built on the road.
Raev added that BAKAD is one of the most awaited and difficult projects in the country and this project is expected to end traffic jams in Almaty city.
Kazakh Investment and Development Ministry previously said that the project, which will cost 150 billion Kazakhstani tenges ($467.9 million), would be launched by Turkish and Korean investors.