Alarko initiates Central Asia’s largest agricultural investment $650M, Kazakhstan
Umit Nuri Yıldız (L), CEO of Alarko Holding, alongside Shymkent Governor Gabit Abdimazhitovich Syzdykbekov (R), attend the groundbreaking ceremony of greenhouse complex construction in Shymkent, Kazakhstan, on Aug. 7, 2024. (Photo via alarko.com.tr)
Alarko, a leading Turkish conglomerate, recently held discussions with Kazakhstan‘s Deputy Prime Minister, Serik Zhumangarin regarding Central Asia’s largest agricultural investment, worth $650 million.
According to economy-based dunya.com, the meeting emphasized the construction of a greenhouse complex and a processing facility for harvested products in Shymkent by the end of next year. The two-phase investment plan includes an initial phase of 45 hectares, followed by an expansion to 130 hectares. Once fully operational, the complex is expected to produce 51,000 tons of agricultural products annually. In addition to meeting domestic demand, these products will be exported to countries including Russia, Qatar, and the United Arab Emirates, projecting to create approximately 2,000 jobs.
Deputy Prime Minister Zhumangarin underscored comprehensive government support for Alarko and recommended exploring additional agricultural sectors, such as grain, sugar beet, and leather processing.
The largest Turkish agricultural investment abroad
Alarko Holding’s project marks the largest overseas agricultural investment by a Turkish company. Last year, Alarko established “TOO Alsera KZ” in Shymkent to operate in agriculture and greenhouse cultivation, setting the groundwork for this ambitious venture.
In August, a groundbreaking ceremony was held for the first phase of the TOO Alsera KZ greenhouse complex. The ceremony was attended by Alarko CEO Umit Nuri Yildiz, Alarko Agriculture Group General Manager Melike Kocoglu, and Shymkent Governor Gabit Abdimazhitovich Syzdykbekov. The local administration allocated 2,100 acres for the project, with work commencing on the initial 400-acre phase.
In an interview following the ceremony, Melike Kocoglu revealed that Alarko plans to implement agricultural projects on 5,000 acres in Kazakhstan under a five-year investment strategy.
