Turkey’s Аlarko Holding and its Kazakhstan-registered subsidiary, LLP Alsera KZ, have signed an investment agreement with the Ministry of Agriculture of Kazakhstan for a project to construct a greenhouse complex in the city of Shymkent.
According to Kazakh Invest, Kazakhstan’s national investment company, which supports the project, the Turkish company will invest $650 million to build greenhouses capable of producing up to 175,000 tons of tomatoes a year. The project is to begin production by 2026, creating 5,000 jobs.
The greenhouse complex will produce high-quality vegetables to meet the domestic demand and reduce seasonal imports during the off-season, when there are shortages and price increases in the country.
In the future, the project aims to export products to South Korea, Japan, and Russia.
Madiyar Sultanbek, the Deputy Chairman of the Board of Kazakh Invest, emphasized the project’s importance for attracting foreign investment to Kazakhstan’s agricultural sector. “The implementation of this project demonstrates the high level of trust foreign investors have in our country and its investment climate. Under the signed investment agreement, the Turkish investor also commits to building playgrounds and kindergartens, and to landscaping the area. Such initiatives are an essential part of a socially responsible approach by investors.”
