Astana Draws $2.5 Billion in Investments, Boosts Industrial Output in 2024
Astana attracted nearly 1.3 trillion tenge ($2.5 billion) in investments over the first ten months of 2024, with industrial production volumes increasing by 7% compared to the previous year, Deputy Mayor Yevgeniy Glotov reported during Prime Minister Olzhas Bektenov’s November 29 visit to the city’s enterprises.
Astana's gross regional product (GRP) reached 5.5 trillion tenge ($10.7 billion) in the first half of 2024, also up by 7% from 2023. Small and medium-sized businesses accounted for 72% of the GRP, reflecting the city’s growing economic diversification.
Bektenov visited key facilities, including the Digital System Service plant, which produces telecommunications equipment with an annual capacity of 720,000 units, scaling to 805,000. Established in 2005 with $4.5 million in investments, the plant is expanding into international markets like Uzbekistan and Azerbaijan.
In railway engineering, the Lokomotiv Kurastyru Zauyty plant assembles up to 120 diesel locomotives annually with 75% localized production. The project has drawn 30 billion tenge ($58.6 million) in investments and produced 611 locomotives to date.
The Ashina KZ sewing factory, valued at 1.4 billion tenge ($2.7 million), manufactures 24,000 clothing and textile items annually, showcasing growth in the light industry sector.
At the Tau-Ken Altyn refinery, Bektenov reviewed advanced technologies used to refine precious metals. Since its launch, the facility has processed 336.7 tons of gold and 64.2 tons of silver, with an annual capacity of 25 tons of gold and 50 tons of silver, making it a standout in the CIS region.
Astana’s strategic investments and industrial advancements underline its critical role in Kazakhstan’s economic development.
