Almaty Region to Reclaim Lake Issyk Dam From Investor
Photo: Akimat of Almaty region
The Almaty Region Akimat has terminated its contract with Habel LLP, which received the dam on Lake Issyk and the surrounding 140 hectares under trust management for 49 years. In the first year, the investor was supposed to invest 245 million tenge but invested only 11.4 million tenge, less than 5% of the planned amount, Orda.kz reports.
The contract was terminated due to the company’s failure to meet its obligations for the safe operation and modernization of the dam.
The dam and adjacent territory were transferred to Habel LLP at the end of 2024 following an open tender. The company was required to inspect the dam, reconstruct the hydraulic structure, introduce monitoring and security systems, carry out cleaning work, and develop tourism infrastructure. However, an inspection revealed violations.
According to the akimat, the investor failed to complete a significant part of the work. The company was given time to fix the shortcomings, but the obligations were still not fulfilled.
In addition, the conclusion of the multifactor survey of the dam, which was supposed to be prepared by November 2025, was not submitted on time, and the mandatory annual report was not provided. The lack of actual activity in the declared amount also affected expected tax and other budget revenues,the akimat said.
The facility is now expected to be returned to the state. Further decisions on the Lake Issyk dam will be made by the akimat with safety and state interests in mind.
Original author: Saule Abdykamit
Read also:
- Public Hearings on Lake Inder Salt Project Split Residents
- Kazakhstan’s Resort Ranking: Where People Vacation Most Often
- Where Direct Flights to Kazakhstan’s New Resort Airports Will Operate
Latest news
- Kazakhstan Reappoints Heads of National Bank, KNB and Key Legal Institutions
- Kazakhstan’s Cashless Payments Top 500 Billion Tenge a Day
- Tourists Face Penalty for Painting Rock Near Lake Shalkar
- Pavlodar Refinery Delays Maintenance to Avoid Fuel Shortages
- Kazakhstan’s First Kurultai Election: What the Turnout and Exit Polls Show
- “Ask Me Next Year”: Tokayev Declines to Reveal Reelection Plans
- Tokayev Says Kazakhstan’s Vice President Will Be Named Within 10 Days
- Kazakh Uranium Giant Plans Major Sales to China and Russia
- Atyrau Oil Company Fined Nearly 1.5 Billion Tenge for Environmental Violations
- Kazakhstan’s Credit Rating Upgraded for First Time in a Decade
- While Thousands Lost Power, KEGOC Executives Received Nearly Half a Billion Tenge
- Changi Airport Group May Help Build Astana’s New Airport
- US Again Extends Deadline for Lukoil to Sell Its Assets in Kazakhstan
- Kazakhstan Extradites Business Manager From Russia in 290 Million Tenge Tax Case
- Released Amur Tiger Successfully Hunts in Kazakhstan’s Wild
- Kazakhstan Moves to Develop Critical Minerals as Global Competition Intensifies
- Another Performance by Kazakh Stand-Up Comedian Called Off
- Uzbekistan Begins Preparations for Second Nuclear Power Plant
- Backpack Links Glacier Remains to Man Missing for 19 Years
- 650-Hectare Wildfire Contained in Karaganda Region
