• KGS/USD = 0.01173 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09387 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01173 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09387 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01173 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09387 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01173 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09387 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01173 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09387 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01173 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09387 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01173 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09387 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01173 0%
  • KZT/USD = 0.00211 0%
  • TJS/USD = 0.09387 0%
  • UZS/USD = 0.00008 0%

Viewing results 1 - 6 of 147

Kyrgyzstan to Take Chinese Loan to Build Railroad

Kyrgyzstan intends to take a loan from China to construct the China-Kyrgyzstan-Uzbekistan railroad. Azamat Sakiyev, the General Director of Kyrgyz Temir Jolu NC, stated at the Parliamentary Committee on Transport, Communications, Architecture, and Construction meeting, 24.kg has reported. The Speaker noted that the feasibility study for the project has already been developed, and the agreement amounts to $4 billion 700 million. "According to the agreement, 51% of the costs will be covered by the People's Republic of China, and the Kyrgyz and Uzbek sides will assume 24.5% each," Sakiyev said. "Where will we find $1 billion?" MP Baktybek Sydykov asked, to which Sakiev replied that the Kyrgyz Republic intends to borrow money from Chinese banks. Sakiyev specified that the Chinese side would lend the joint venture half of the total project cost—$2 billion 350 million—and the parties would cover the other $2 billion 350 million at their own expense. As a result, Kyrgyzstan's share will amount to $783 million. The China-Kyrgyzstan-Uzbekistan railroad is a projected 454-kilometer railroad designed to connect the railroads of China and Uzbekistan through the territory of Kyrgyzstan and further through Turkmenistan, Iran, and Turkey, to connect with the European railroad network within the framework of the New Silk Road transport system. Previously, Kyrgyz President Sadyr Japarov had said the construction would cost between $3 and $5 billion.

Kazakhstan’s National Railway Carrier Under Threat of Default

The Chairman of the Supreme Audit Chamber (SAC), Alikhan Smailov, has discussed the possible default of national rail carrier, Kazakhstan Temir Zholy (KTZ). According to Smailov, the company cannot currently fulfill its obligations. "The company is in the ‘red’ zone of credit risk. At the beginning of 2024, its debt amounted to 2.9 trillion tenge ($6 billion) and continues to grow; 45%, or 1.3 trillion tenge ($2 billion), of the total debt is aimed at refinancing previously assumed debt obligations,” said Smailov, answering questions from deputies. According to Smailov, Samruk-Kazyna JSC's existing corporate governance methods and development strategy, which include KTZ, are not able to prevent the crisis the country's national railway company is facing. “Further deterioration of assets, the build-up of debts, and the inability to service them without fundamental management changes will lead to the default of KTZh,” Smailov stated. A large amount of budget funds has been spent on developing the railway industry over the past four years, but it has not been enough. The money invested has yet to meet the nation's needs for freight and passenger transportation, Smailov emphasized.

Kyrgyzstan and China Aim to Increase Trade

On May 18 in Bishkek, Chairman of the Cabinet of Ministers of the Kyrgyz Republic, Akylbek Japarov held talks with Vice Premier of the State Council of the People's Republic of China, Liu Guozhong. Emphasizing that China is one of Kyrgyzstan’s main trade and investment partners, Japarov stated that bilateral trade turnover is growing every year and reached $19.8 billion in 2023, an increase of 30% compared to 2022. “But this is not the limit, and the Kyrgyz Republic is ready to jointly make efforts to increase all trade and economic indicators,” he stated. Japarov stressed the importance of the full and uninterrupted functionality of the Torugart and Irkeshtam checkpoints on the Kyrgyz-Chinese border to further increases in trade between the two countries. According to Japarov, the Kyrgyz side is aiming to develop transport and logistics infrastructure, removing restrictions that impede trade exchanges, and creating mutually beneficial conditions. “We would like to expand our capabilities and switch to daily and round-the-clock operation of these border checkpoints. I believe this will also be useful for the Chinese side, as it will allow an even larger volume of cargo and goods to be exported from China to Kyrgyzstan, and on to third countries. We are aiming to increase the throughput capacity of the border checkpoints to 1,000 vehicles per day,” the prime minister said. Kyrgyzstan also expects to sign protocols on new types of agricultural products and simplify procedures for the export of these products from Kyrgyzstan to China. In turn, Vice Premier Liu Guozhong noted the high level of Kyrgyz-Chinese relations and the readiness to further develop and strengthen mutually beneficial and multifaceted cooperation. Guozhong stated that construction of the China-Kyrgyzstan-Uzbekistan railway is of strategic importance for the entire region and urged that its construction start sooner. He also noted the importance of increasing trade turnover, increasing the capacity at border checkpoints, opening the new Bedel border checkpoint this year, and expanding cooperation in tourism. Guozhong also stated that the Chinese market is open to the import of Kyrgyz agricultural products.

A Steep Rise in Popularity of Women-Only Carriages on Kazakhstan’s Trains

Since the beginning of this year, some 70,000 women in Kazakhstan have opted to travel by train in carriages designated as "women's cars". According to data provided  by the national carrier "Kazakhstan Temir Zholy" (KTZ), this is a steep rise from the 34,000 who used the same carriages in 2023. Introduced at the beginning of 2021, the service which female travelers deem safer and more comfortable than mainstream carriages, has now been used by over 359,000 women. Outlining the initiative, KTZ explained that tickets for women's cars, available on eight trains, are sold only to women and are staffed exclusively by female conductors. Any males traveling must be seven years' old or under. With reference to forward planning, the company stated, "A social survey is currently being conducted on the project. Once collated, the results should provide a better understanding of the needs and preferences of passengers, and subsequently, help determine a strategy for its future development." The need to launch women-only cars in Kazakhstan was spurred by public outrage following the rape of a female passenger by two conductors on a high-speed train traveling the 'Talgo' route between Astana and Aktobe in the fall of 2018. During the ensuing high-profile case in  July 2019, conductors Zhetes Umbetaliyev and Kolkanat Kurmaniyazov were found guilty and sentenced to prison.

A New Railway Project for China, Kyrgyzstan and Uzbekistan

On March 1st, Akylbek Japarov Chairman of the Cabinet of Ministers of the Kyrgyz Republic, Abdulla Aripov Prime Minister of Uzbekistan and Ma Xingrui Communist Party Secretary of China’s western Xinjiang Uygur Autonomous Region, met in Kashgar (Xinjiang) to discuss the construction of the China-Kyrgyzstan-Uzbekistan railway. Japarov first praised the incentive for its potential to strengthen the development of trade and economic cooperation between the three countries and reported that a jointly funded feasibility study of the project had already been developed and approved. Uzbekistan’s Prime Minister Aripov expressed his country’s interest in developing multimodal transport routes to support the joint construction of the China-Kyrgyzstan-Uzbekistan railway. Addressing the insufficient throughput capacity of the Irkeshtam checkpoint on the Kyrgyz-Chinese border, Japarov stated, “increasing the volume of cargo throughput at the Irkeshtam checkpoint is an issue relevant to both the Kyrgyz and Chinese sides, as well as the Uzbek side. It is therefore important that all checkpoints are modernized and equipped with updated means of customs control.” He then reported that new customs inspection complexes at the Irkeshtam and Torugart checkpoints to be installed this year, will allow up to 125 vehicles per hour to cross the border, and added that the Kyrgyz side aims to increase the throughput capacity of these checkpoints to 1,000 vehicles per day. In the interest of developing trade and economic ties, the Secretary of Xinjiang’s Party Committee welcomed the Kyrgyz Prime Minister's proposals and supported his stance that Xinjiang is perceived as a gateway to China from Kyrgyzstan and in turn, several other Central Asian countries.

Iran and Afghanistan to complete railway link in March, official says

TEHRAN (TCA) — A senior Iranian official says a major railway connecting Iran and neighboring Afghanistan will be ready in March 2020 as construction of a key cross-border line is nearing completion, Iran’s PressTV news agency reported. Continue reading