Categories Kazakhstan

Qatari investor to modernize Kazakhstan’s Atyrau Airport with $50mn investment by 2026

  • Estimated read time 2 min read
  • September 11, 2024

QazAir Investments, a Qatari-registered start-up, is set to undertake a significant modernization project at Atyrau Airport, Kazakhstan’s oil capital, CentralAsia+ Aero reports. The project, including the construction of a new passenger terminal, is scheduled for completion by 2026. Once finalized, the airport’s passenger traffic capacity is projected to increase by 3.7 times, from the current 800,000 to 2.9mn annually.

Qatari investor to modernize Kazakhstan's Atyrau Airport with $50mn investment by 2026

This development follows an inspection of the airport by Marat Karabayev, Kazakhstan’s transport minister, and comes shortly after the government approves the sale of 100% of the airport’s operator shares to QazAir Investments, which was established in Qatar in 2023.

$50mn investment and infrastructure expansion

QazAir Investments plans to begin construction on the new terminal in 2025. The modernization will encompass a full overhaul of the airport’s infrastructure, including the reconstruction of its existing facilities. The total investment for the project is expected to amount to $50mn.

The new terminal will cover 16,500 square meters, compared to the current 3,700 square meters. Telescopic passenger boarding bridges (three jetways) will also be introduced at the airport for the first time. The expanded facilities aim to increase the range of destinations, with new routes to popular tourist locations in Europe and Asia.

Ownership transition and current operations

In August 2024, the government of Kazakhstan approved the transfer of shares of the airport’s operator, ATMA – Atyrau Airport and Transportation, to QazAir Investments. Public records show the company’s main shareholder is Abraham Daniel Danino, a French national.

Previously, ATMA – Atyrau Airport and Transportation had been operating as a joint Kazakh-Turkish venture since 1994. Ownership was split between Atyrau Social and Entrepreneurial Corporation, which held a 50% stake, and Turkey’s Magdenli Yer Hizmetleri Ve Tasima A.S., which owned the remaining 50%.

The airport currently handles 89 domestic scheduled flights per week to destinations such as Astana, Almaty, Shymkent, Aktau, Aktobe, Uralsk, and Taraz. It also offers 21 weekly international flights to Kutaisi, Amsterdam, Istanbul, Antalya, Sharm-el-Sheikh, and Moscow. The existing runway, which was constructed in 2005, is capable of accommodating all aircraft types.

 

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