Almaty airport lands $670M syndicated loan for expansion
What's the deal? Almaty International AirportDealroom has a profile for this one. Try Dealroom → has secured US$433.5M syndicated loan to fund the next phase of its expansion, the Eurasian Development Bank (EDB)Dealroom has a profile for this one. Try Dealroom → said. Bank of AmericaDealroom has a profile for this one. Try Dealroom → arranged the deal, with the EDB acting as anchor lender contributing $100 million. Merrill Lynch International, Société Générale, the Turkic Investment Fund, and Kazakh banks also joined the syndicate.
What's the endgame? The financing will fund a modernised domestic terminal, upgraded airfield infrastructure, new aircraft de-icing facilities, and an expanded cargo terminal. The project aims to speed baggage handling, improve links between the international and domestic terminals, and boost throughput.
Why now? Almaty is Central Asia's largest aviation hub and Kazakhstan's leader in passenger and cargo traffic, handling over 32,000 passengers a day. Passenger flow reached 12 million in 2025, closing in on the 14 million annual capacity created by a 2024 terminal opening.
Context: In 2021, the EDB, DEGDealroom has a profile for this one. Try Dealroom →, EBRDDealroom has a profile for this one. Try Dealroom →, and IFC financed an earlier expansion that lifted the airport's capacity from 3 million to 14 million passengers a year. The airport is owned by TAV AirportsDealroom has a profile for this one. Try Dealroom →, whose main shareholder is France's Groupe ADPDealroom has a profile for this one. Try Dealroom →.
The signal: "The expansion of the range of participants confirms confidence in Kazakhstan's infrastructure assets and creates additional opportunities for attracting international capital into the country's major projects," said EDB chairman Nikolai Podguzov (translated from Russian). The loan, which matures by 2033, shows how development banks and commercial lenders can jointly back large infrastructure bets in the region.
Read more: kz.kursiv.media
Image credit: Generated with Gemini
