Almaty Region to Reclaim Lake Issyk Dam From Investor

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

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