Investment Projects

Construction of the tourist and recreational center "Kaskasu" in the Kaskasu gorge

  • Indicator Results
  • Investment amount, thousand US dollars 74 413
  • NPV of the Project thousand, US dollars 4 851
  • IRR, % 15,0%
  • EBITDA yield, %
  • Payback period, years 9,77
  • Discounted payback period, years - -


Upon reaching full design capacity, it is planned to service annually:

  • Winter season: skiers - 198 thousand people, hiking - 161 thousand people, additional services - 145 thousand people.
  • Summer season: hiking - 321 thousand people, additional services - 185 thousand people.
  • Total: 680 thousand people per year with the prospect of growth

This investment project (hereinafter referred to as the "Project") is planned to build an international tourist and recreational center "Kaskasu" on the territory of the Sairam-Ugam State National Natural Park in the Tolebi district of the Turkestan region. For the construction of a tourist and recreational center, a plot of 280 hectares is provided, leased for a period of 49 years by the Akimat of the Tolebi district of the Turkestan region. The project provides for the construction of ski runs with a length of 12.7 km and a capacity of about 7,800 people per day, a hotel for 150 people, ski equipment (cable cars, lifts, snowmaking systems, etc.), as well as summer recreation facilities.


LLP "Kaskasu Resort (Kaskasu Resort)" was established in 2015. The company is the initiator of the project "KASKASU Tourist and Recreational Center in the Tolebi district of the Turkestan region", designed on the territory of the Sairam-Ugam State National Natural Park.

  • The number of domestic tourists in the Republic of Kazakhstan is gradually growing: over the past 5 years, the cumulative average annual growth rate has reached 7%. In 2021, the number of domestic tourists increased by 55% compared to 2020.
  • In 2021, the number of domestic tourists in the Turkestan region and Shymkent increased by 8% and 13%, supported by the opening of borders and the recovery of the tourism industry after the COVID-19 pandemic. The main reason for the development of domestic tourism is the increased level of development of tourism infrastructure, the correspondence of prices to the quality of services provided and the safety of recreation. According to the administration of the Turkestan region, in order to develop tourism infrastructure in 2022, a pool of 16 infrastructure projects worth 57.3 billion tenge was developed.
What is the attraction of the project?
  • Year-round offer and attractive location. There is an internal potential for the development of niche tourism in the Turkestan region due to its unique natural characteristics. The climate in the location is characterized in winter by a sufficient amount of snow and the duration of the ski season, and in summer by a favorable mountain climate, which implies a variety of winter and summer types of recreation.
  • The growth of the tourist flow. Kazakhstan is located in geographical proximity to countries with high rates of international tourism, which will attract travelers from these countries. As part of the tourism development programs in the Turkestan region, by 2025 it is planned to increase the flow of tourists and the number of visitors to 2.5 million people.
  • Growing demand. According to the Bureau of National Statistics of the Agency for Strategic Planning and Reforms of the Republic of Kazakhstan, over the past 5 years, the Tolebi district has shown the most impressive growth in tourism in the Turkestan region. The volume of visitors has grown 5 times and a large number of resorts and recreation areas have been built.
Investment proposal

To implement the Project, financing in the amount of USD 74,413 thousand is required, subject to the following conditions:
  • Providing a foreign investor with a share in the Project in the amount of 66%;
  • Organization by the investor of 100% financing of the Project at a rate of 0%.

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