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Astana LRT to be financed by bonds, Kazakhstan [free access]

June 26, 2019

Astana LRT LLP, the developer of the Astana light rail transit (LRT) project, has announced plans to launch bonds worth USD1.50 billion in Kazakhstan to fund the project. Of these, USD344 million will be used to repay a loan from China Development Bank. The loan has an annual interest rate of 2.50 per cent and a term of 20 years.

 

The remaining USD1.20 billion will be used for the construction of the line. The date of launch of the bonds is yet to be announced.

 

Astana LRT is the first light rail project in Nur-Sultan. It will be developed in three phases which will collectively span 42 km. Currently, Phase I is under construction and Phases II and III are under planning. Phase I will span 22.6 km (fully elevated) and cover 18 stations. Construction is expected to be completed by September 2020.