The Cabinet of Ministers of Kyrgyzstan decided to terminate the investment agreement on the implementation of «Construction of the Eco-Friendly Asman City» project. The Chairman of the Cabinet of Ministers Adylbek Kasymaliev signed the corresponding order.
Earlier (in November 2024), it was signed with CITIC Merchant and Module House LLC.
The document notes that the Order No. 724-r has been declared invalid.
The reason for the decision is unknown.
According to the Ministry of Justice, the founders of Module House are Elaman Toktobekov and Jipargul Bazarbaeva, with Ermek Atantaev listed as director. The company is engaged in construction of residential and non-residential buildings.
CITIC Merchant Corporation Limited is a Hong Kong financial and industrial conglomerate, 58 percent of its shares belong to the Chinese CITIC group.
Recall, on June 30, 2023, President Sadyr Japarov laid a capsule at the construction site of a new eco-friendly city. It was reported that the approximate cost of the project is $20 million.
Last November, then-head of the Cabinet of Ministers Akylbek Japarov announced that funding sources for Asman city totaling $480 million had been identified.
