BAKAD Road Concession (EBRD-47085)

Countries
  • Kazakhstan
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Bakad Investment and Operations LLP
The holder of the loan, grant, or other investment.
Sectors
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 225.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 225.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 750.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jul 5, 2019

Disclosed by Bank Mar 27, 2019


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Project Description

According to EBRD website, the project is expected to: (i) divert transit traffic away from Almaty, and thus contribute to the reduction of the city's pollution; (ii) reduce traffic congestion and commuting time to and within Almaty; (iii) reduce road accidents, improve the capacity and competitiveness of the trans-Kazakhstan transit routes; (iv) enable increased regional and international trade as the Project forms part of the Western Europe - Western China transcontinental highway; (v) encourage the use of the PPP/concession framework in other sectors and projects in Kazakhstan, as the Project is the first Public Private Partnership (PPP) project in the country and the first large infrastructure project to be completed with private capital outside the commodities sector.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

Bakad Investment and Operations LLP (the "Project Company") is owned by Alsim Alarko Sanayi Tesisleri ve Ticaret A.S. (33.3%), Makyol Insaat Sanayi Turizm ve Ticaret A.S. (33.3%), SK Engineering and Construction (33.3%), and Korea Expressway Corporation (0.10%). 

Contact Information

Ms. Ayman Zhanuzakova
Email Address: ayman.zhanuzakova@alarko.kz 
+77273358342
http://www.bakad.com.kz 
Office 403, 55/1, Zhangozin Str., Kaskelen City, Almaty Region, 040900, Republic of Kazakhstan

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.