Freedom Telecom to invest 107 billion tenge in Kazakhstan’s telecom sectorFreedom Telecom, a subsidiary of Freedom Holding Corp, is set to invest 107 billion tenge (USD 230 million) in Kazakhstan’s telecommunications infrastructure.This investment, announced by Zhaslan Madiev, the Minister of Digital Development, Innovation, and Aerospace Industry, will fund two major projects aimed at enhancing the country's digital connectivity.The first project involves constructing a national West-East Hyperhighway, a 3,100 km fiber-optic network designed to boost transit traffic across Kazakhstan. This ambitious initiative will require over 17 billion tenge and is expected to be completed by the end of 2025.The second major project is establishing a state-of-the-art data processing center near Konayev city in southern Kazakhstan. This Tier-III facility will support both transit and international traffic, integrating innovative solutions for artificial intelligence and advanced data transmission. The project will demand an investment exceeding 90 billion tenge and is slated to be operational by December 2027.“For these two projects, Freedom Telecom LLP proposed to invest over 17 billion tenge in the hyperhighway, to be completed by the end of 2025, and over 90 billion tenge in the construction of a data center, with a completion target of the end of 2027,” said Madiyev at a government meeting on Tuesday.“A super data center that meets hyperscaler requirements, incorporating innovative AI and data transmission solutions, will be built as an alternative segment of the global transport network between Western Europe and Southeast Asia. We plan to locate it in the G4 city in FEZ-3 near Konayev, with a completion date set for December 2027. This is entirely our private investment,” said Kairat Akhmetov, head of Freedom Telecom.In December 2023, Freedom Holding successfully placed 5-year dollar bonds worth $200 million on the Astana International Exchange (AIX) to support the creation of Freedom Telecom.Freedom Holding Corp, controlled by Kazakh businessman Timur Turlov, operates in 14 countries, including the USA, UK, and Germany. Headquartered in Almaty, the company conducts transactions on multiple stock exchanges, such as the Kazakhstan Stock Exchange, New York Stock Exchange, and Nasdaq.In November, S&P Global Ratings affirmed the company’s long-term credit rating at "B-" and adjusted the outlook for the holding and its subsidiaries from “stable” to “negative.” (ICE ALMATY)

Fonte notizia: INTERFAX