According to an updated study by the Eurasian Development Bank (EDB), more than 400 transport projects worth $345 billion are being implemented or planned across Eurasia by 2035.
Alexander Zaboev, Head of the EDB's Center for Integration Studies, presented the findings of the 'Eurasian Transport Structure Observatory' during a webinar. Of the total number of projects, about 300 are in active construction or documentation preparation stages, while approximately 100 remain at the planning or investor search stage.
Distribution of Investments by Region
Russia accounts for the largest share of investments, primarily directing funds towards modernizing the Eastern Railway Polygon, developing access to seaports, and developing the Northern Sea Route. Kazakhstan follows Russia in terms of investment volume. Significant financial injections are also planned for Uzbekistan, and Kyrgyzstan has major infrastructure plans.
Zaboev noted that 84% of all regional investments are allocated to roads and railways—the most capital-intensive types of infrastructure. An additional $30 billion has been earmarked for port development and $13 billion for the aviation network.
Forty-eight international development banks are participating in the financing of transport projects, having contributed over $6 billion. Another 29 projects are in the negotiation stage. According to Zaboev, the Asian Development Bank remains the most active international organization in the region and is implementing a project for the comprehensive modernization and digitalization of border crossing points.
Central Asia: 114 Projects Worth $72 Billion
Aidos Samarov, Senior Analyst at the EDB's Center for Integration Studies, reported that Central Asia has 114 current and prospective infrastructure projects totaling about $72 billion. The largest share of investments goes to roads—$40.6 billion. Railways account for about 30%, and over $5 billion has been allocated for airport development, including the modernization of Almaty Airport and the construction of Tashkent New Airport.
According to Samarov, national budgets provide 56% of the investment in the region's transport infrastructure. The remaining 44% comes from extra-budgetary and external sources, such as international development banks, the private sector, and foreign investment, with almost all of this volume coming from China.
The highest concentration of investments is observed in Kazakhstan, where 55 projects are valued at $32.6 billion; of this amount, $22.7 billion is directed to roads, and over $6 billion to railway projects. Kyrgyzstan has 23 projects worth about $11 billion, with over 90% of the portfolio already in the implementation or documentation preparation stage. The Observatory also records 11 projects in Tajikistan valued at $1.74 billion, most of which are related to railway infrastructure. In Turkmenistan, six large projects worth about $6 billion are under consideration, including the Ashgabat-Turkmenabat highway valued at $2.5 billion.
Uzbekistan: 31 Projects Worth $17 Billion
Samarov specified that the Observatory includes 31 projects in Uzbekistan with a total value of about $17 billion. Roads receive the largest share of investment—about $10 billion, while less than $4 billion is allocated to railways. Significant funding is also provided for border crossing points.
Approximately $7 billion of the projects are already in the implementation process. Of the 31 projects, 28 are expected to attract debt financing, with international development banks participating in 16 of them. Among Uzbekistan's largest projects, Samarov named the China-Kyrgyzstan-Uzbekistan railway, the construction of the Tashkent-Andijan toll highway, and the construction of Tashkent New Airport.
Zaboev also pointed out that the growth of Uzbekistan's trade turnover is one factor increasing cargo flows along the TRACECA corridor, both with regional countries and Turkey. He mentioned that Uzbekistan is considering transporting goods through the ports of Aktau and Kuryk as part of the Middle Corridor development. Among Uzbekistan's achievements over the past year, Zaboev highlighted the commissioning of the Gulistan-Angren-Kokand-Andijan-Osh road section, bypassing the Angren coal mine, as well as the electrification and launch of high-speed transport on the Bukhara-Khiva railway section spanning 465 km. According to him, the demand for transport on this route is already so high that tickets must be purchased in advance, which he views as a prelude to larger plans, including the construction of a high-speed railway between Tashkent and Samarkand.
China-Kyrgyzstan-Uzbekistan Railway
The study pays special attention to the construction of the China-Kyrgyzstan-Uzbekistan railway, which Samarov called the largest transport project in Central Asia involving China. This corridor will be 523 km long and include 27 tunnels totaling 103 km and 48 bridges crossing approximately 16 km. The total cost of the project is estimated at $4.7 billion. The financial model is divided into two equal parts: a loan of $2.35 billion from China and a joint venture contribution, in which the Chinese company holds a 51% stake.
The new line will run from Kashgar through Turgart and Makmal towards Jalal-Abad before connecting to Uzbekistan's existing railway network. Samarov emphasized that China is becoming the largest foreign investor in Central Asia's transport infrastructure. The Observatory records over 20 projects involving Chinese companies and capital totaling about $7 billion, exceeding the total investment of all international development banks in the region. In addition to the China-Kyrgyzstan-Uzbekistan railway, Chinese capital is involved in the development of the Kuryk port in Kazakhstan, railway and logistics infrastructure at the border in Kyrgyzstan, and road construction in Tajikistan. China's participation in major road projects in Uzbekistan is being considered.
Bottlenecks and Prospects
When asked about the main bottlenecks affecting transport corridors through Kazakhstan, Zaboev replied that there are currently no critical bottlenecks. However, as cargo flows increase, individual limitations appear, including the need to modernize single-track railway lines, build additional main tracks, electrify routes, and conduct dredging operations at the ports of Aktau and Kuryk due to the shallow Caspian Sea.
He also highlighted the risk of congestion at the Dostyk and Altynkol border crossings with China. A new railway is being built through the Bakhty border crossing to reduce the load on these crossings. According to the EDB, the Observatory's methodology covers 13 countries in the Eurasian region, most of which are landlocked.
Zaboev stressed that all transport corridors are cross-border, and their efficiency directly depends on the coordinated development of infrastructure in all countries through which they pass.