Why do Kazakhstan prefer to build large projects with public funds rather than private investment? Why do independent experts estimate the construction of the GRES-3 power plant in Ekibastuz at $3 billion, while state-owned entities estimate the cost at $6 billion?
Akezhan Kazhegeldin, Prime Minister of Kazakhstan from 1994 to 1997, believes that certain individuals are pushing for large projects at the state level at inflated prices in order to “appropriate” budget funds for themselves and corrupt officials.
He also cites the example of the currently irrelevant Astana water pipeline project. Its cost is disputed, ranging from $300 million to $1 billion.
Video from the HYPERBOREY channel.
