Baiterek Holding drives strategic development of Kazakhstan’s transport infrastructure

Rustam Karagoishin, Chairman of the Board of Baiterek National Management Holding, recently met with the management team of Almaty International Airport to discuss its future development.

Attendees included Goker Kose, Acting President of Almaty International Airport; Ufuk Sert, Vice President for Government Relations; Zhandos Shaikhy, Deputy Chairman of Baiterek Holding; and Gabbas Yerzhanov, Deputy Chairman of Qazaqstan Investment Corporation.

The discussions focused on the development prospects for Almaty International Airport and joint efforts to enhance transport infrastructure in the surrounding area. A key milestone in this effort was the launch of the new airport terminal in June 2024, built to international EDGE Advanced standards. Spanning 53.5 thousand square meters, the terminal can serve up to 14 million passengers annually and represents a significant step in the airport’s modernization.

“Baiterek Holding is committed to supporting strategic projects that improve Kazakhstan's infrastructure. We are proud of the progress made at Almaty International Airport, recognizing its pivotal role in the development of the nation’s transport network,” said Rustam Karagoishin.

The airport investors include TAV Airports Holding and Kazakhstan Infrastructure Fund C.V. – a portfolio fund managed by Qazaqstan Investment Corporation (a Baiterek Holding subsidiary). They played a crucial role in financing the new terminal’s construction. The airport has since seen remarkable growth, with passenger traffic increasing from 6.1 million in 2021 to a record 9.5 million in 2023, while the number of international airlines serving the airport has expanded from 21 to 35.

Looking ahead, the reconstruction of the domestic flight terminal is slated to begin in the fourth quarter of 2024, aiming to enhance passenger service quality and increase the terminal's capacity.

Background information:

TAV Airports is one of the world’s largest airport management companies, serving over 100 million passengers annually. The company manages 15 airports across eight countries, offering a wide range of services, including ground handling, terminal management, retail, and catering.

Qazaqstan Investment Corporation, a subsidiary of Baiterek National Managing Holding, is a fund of private equity funds founded in 2007. Its primary mission is to develop private equity infrastructure in Kazakhstan, fostering sustainable economic growth in the country.