Kapshagay has big future - President

Kapshagay. July 24. Kazakhstan Today - The city of Kapshagay has big future. The President of Kazakhstan, Nursultan Nazarbayev, said during his working trip to Almaty oblast, the agency reports.

"Lately the American company which participated in construction of Las Vegas, has expressed big interest in construction in Kapshagay. I think we will succeed and will have big entertaining complex," the President said.

As it was informed earlier, on July 6, Kazakhstan government signed the protocol on intentions on realization of the civil-engineering design of construction of international tourist center at the coast of Kapshagay water basin in Almaty oblast. The protocol was signed by the Minister of Tourism and Sports of Kazakhstan, Temirkhan Dosmuhambetov, and the chairman of the Board of Directors of American Company Eighth Wonder International Limited Mark Advent.

According to the Ministry of Tourism and Sports, international tourist center that include hotels, golf courts, a conference hall, spa centers, restaurants, cultural-entertaining, trading and sports objects are planned to be constructed at the coast of Kapshagay water basin.

"Construction will be done in three stages. The first stage is planned for one year, the second stage - three years, and the third stage - ten years," the Minister of Tourism and Sports explained. During the first year of realization of the project it is planned to carry out design works and the next years - construction will begin.

According to the Ministry, the Company Eighth Wonder International Limited will invest more than $3 billion at the first stage of realization of the project.

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