Kazakhstan Temir Zholy Registers Record Net Profit of $344 Million in 2023 

ASTANA – Kazakhstan Temir Zholy (KTZ) national railway company’s net profit hit a record 154 billion tenge (US$344.2 million) in 2023, four times more compared to the last year, said KTZ Chair Nurlan Sauranbayev during a Feb. 1 meeting with President Kassym-Jomart Tokayev, reported Akorda.

Photo credit: Akorda.

According to Sauranbayev, the company’s production figures have shown growth over the past three years. In 2023, freight turnover increased by 7% and reached 270 billion ton-kilometers. The volume of transit traffic increased by 18% and exceeded 27 million tons. As a result, the company’s revenue increased by 29.3% compared to last year, totaling 1.9 trillion tenge (US$4.2 billion). 

Sauranbayev reported on the implementation of large infrastructure projects, including the construction of second tracks on the Dostyk – Moyynty section, a railway line bypassing the Almaty station and others. To date, more than 350 kilometers of tracks have been laid. The launch of these projects will increase the capacity of interstate connecting points.

Tokayev learned details on the completion of the construction of a cargo terminal in the dry port of Xian, located in the largest logistics hub in China. It will ensure stable cargo flow in the direction of Kazakhstan and will open access to new markets for Kazakh exporters.

With the world’s leading companies Huawei, Wabtec and PSA, work is underway to implement the Smart Railway project. The introduction of new solutions will increase railway capacity, optimize fuel consumption and improve train safety.

Following the meeting, Tokayev noted the importance of implementing Kazakhstan’s investment projects and focused on the development of the country’s transport and transit potential.

Get The Astana Times stories sent directly to you! Sign up via the website or subscribe to our Twitter, Facebook, Instagram, Telegram, YouTube and Tiktok!