Kazakhstan to Spend $14.3 Billion on Infrastructure by 2029

President Kassym-Jomart Tokayev announced that Kazakhstan will allocate 6.5 trillion tenge, about $14.3 billion, from the National Fund by the end of 2029 to modernize infrastructure nationwide. He made the pledge during his annual State of the Nation Address on October 28.

The president proposed declaring 2027 a year of large-scale construction and launching a nationwide program covering roads, airports, railway stations, and public facilities. He described the initiative as potentially the largest infrastructure project in the country’s history.

“State funds must become a guarantee for attracting private investment.”

The program envisages building around 70 healthcare facilities and approximately 50 education, sports, and cultural facilities. Plans also include extending gas supplies and clean drinking water to underserved communities.

Tokayev said public funding should help attract private investment rather than finance the entire program. He warned that relying solely on state resources would be inappropriate for a project of this scale.

The president also highlighted plans to accelerate nuclear power plant construction and expand transport routes between China and Europe. He said around 85 percent of freight transported from China to the European continent already passes through Kazakhstan.

Tokayev acknowledged that Kazakhstan’s electricity production is insufficient to meet the needs of its growing economy. According to the national grid operator KEGOC, the country generated 123.1 billion kilowatt-hours of electricity in 2025 while consuming 124.6 billion.

He said Kazakhstan aims to eliminate its electricity deficit by 2029. The president also proposed establishing a separate court for investors in the new city of Alatau.