About $1.5 billion needed for construction of LRT in Nur-Sultan

AKIPRESS.COM - About $1.5 billion will be spent for construction of a light rail transit in the city of Nur-Sultan, mayor of the city Altai Kulginov told a government meeting on Tuesday, vlast.kz reported.
According to him, the initial cost of the project was $1.8 billion.
Deputy Prime Minister Zhenis Kasymbekov explained that the government reduced the cost of construction by $1.2 billion that were expected to be spent earlier. Kazakhstan, according to him, will return the loan of the China Development Bank in 5 years instead of the initial 20 years. If the country returns the loan in 20 years, it would spent $2.6 billion for the project.
"Now the term was reduced to 5 years and plus internal resources. The loan gets much cheaper now. The project cost is decreasing due to the changes from lending side and the terms of the loan," Kasymbek added.