Kazakhstan Launches Preferential Mortgage Program for Coal Power Plant Employees

The Government of Kazakhstan has approved a National Project for the development of coal-fired power generation in the country. A key social initiative within this project is the introduction of a preferential mortgage program specifically designed for employees of coal-fired power plants.

The implementation of this housing support program will be entrusted to Otbasy Bank. The national project also includes plans for systematic training and professional development of specialists based at relevant higher education institutions.

To ensure the stable operation of the modernized energy system, the project is synchronized with the mining and transport sectors. By 2030, the additional demand for energy coal is projected to reach approximately 20 million tons per year. To meet this demand, the National Project outlines measures to expand the fleet of rail hopper cars by an additional 600 units per day, modernize railway infrastructure, and introduce predictable tariff corridors for transporting fuel for domestic needs.

The execution of this comprehensive plan is expected to create new jobs, including around 4,500 permanent positions. Furthermore, it aims to strengthen Kazakhstan's energy sovereignty and generate a multiplier effect for domestic mechanical engineering by stimulating the local production of boiler units, transformers, and automation systems.

Ultimately, the initiative seeks to transform coal generation into a high-tech and environmentally responsible sector that provides a foundation for long-term economic growth.