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Tokayev Breaks Ground on $800M Iconic Complex Skyscraper

By Drooid · Oct 30, 2026 · How we work

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Summary

Deputy Prime Minister Kanat Bozumbayev led the groundbreaking ceremony for the Iconic Complex.
China State Construction Engineering Corporation serves as the general contractor for the Iconic Complex.
The development will be Kazakhstan’s first skyscraper, with towers 272 m and 78 m tall.
A special legal regime creates an independent technical review by international experts for project documentation.
Total investment exceeds $800 million, partly funded by a 35.3 billion tenge reserve allocation.

Summary

President Kassym-Jomart Tokayev announced an Astana airport will begin construction next year with a leading global firm.
Kazakhstan operates 46 logistics centers and will add 21 by 2030, Minister Lastayev said.
Kazakhstan runs three foreign terminals and is building seven more overseas to boost transit traffic.
Kazakhstan expects to finish modernizing 37 road border crossings by end-2027.
Construction of the Aral-Caspian highway began in August and targets completion by end-2028.

Summary

President Tokayev proposed a national uranium reserve and allocated 6.5 trillion tenge ($14.3 billion) from the National Fund through 2029.
He set a target of electricity surplus by 2029 to end winter shortages.
An investment court based on English common law will be created in Alatau.
Tokayev raised the minimum wage to 110,000 tenge and urged higher taxes on wealthy.
He highlighted AI paperless waybills for Kazakhstan’s transport hub ambitions.

History

Kazakhstan’s first oil FDI began in 1993 when Chevron and KazMunayGas created the Tengizchevroil joint venture, and foreign investment surged in 1997, raising royalties. Production capacity rose to about 540,000 bpd after the 2008 expansion and hit 870,000 bpd in 2025. Now President Tokayev and minister Bozumbayev are hiring China State Construction for an $800 million logistics complex, seeking to echo the 1990s investment surge.

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Kazakhstan’s first oil FDI began in 1993 when Chevron and KazMunayGas created the Tengizchevroil joint venture, and foreign investment surged in 1997, raising royalties. Production capacity rose to about 540,000 bpd after the 2008 expansion and hit 870,000 bpd in 2025. Now President Tokayev and minister Bozumbayev are hiring China State Construction for an $800 million logistics complex, seeking to echo the 1990s investment surge.

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