The Concession Agreement was signed on 7th February 2018 between:
• The Consortium of Alsim Alarko Sanayi Tesisleri ve Ticaret A.Ş. (Alsim Alarko), SK ecoplant Co., Ltd. (SK), Makyol İnşaat Sanayi Turizm ve Ticaret A.Ş. (Makyol) and Korea Expressway Corporation (KEC) in the role of the Concessionaire

The company was established in June 2018 by the Consortium of Alsim Alarko, SK ecoplant, Makyol and KEC as the Special Purpose Vehicle (SPV) in Almaty Region of the Republic of Kazakhstan to carry out activities related to:
- development, financing, engineering, construction, commissioning, operation and maintenance of the “Big Almaty Ring Road (BAKAD)” Project under the Concession Agreement as the Concessionaire;
- fulfilling the commitments under the debt financing terms and conditions as the Borrower;
- engineering, procurement, construction (EPC) and operation & maintenance (O&M) of the Project under the EPC and O&M contracts as the Client

The BAKAD road construction started in August 2020 and completed in April 2023. The initial construction period was assumed to last for 50 months from the construction commencement date in August, but finished ahead of schedule within almost 33 months. A total of 203 construction heavy machineries and an average of 1600 (2300 peak) employees contributed to the construction.

The construction period was based on the EPC ‘turnkey’ contract, within which the contracting consortium of Alarko-Makyol-SK acting as the EPC Contractor delivered engineering, procurement and construction works to BAKAD Investment and Operation LLP acting as the Client.

The contract for the services delivery within operation and maintenance of the BAKAD road was signed in May 2020. The operation and maintenance period started in June 2023 with the toll collection commissioned in July 2023 and is successfully ongoing.

BAKAD Investment and Operation LLP is acting as the Client and BARR Operation and Maintenance LLP is acting as the Operation & Maintenance Contractor. The subcontract services are delivered to BARR Operation and Maintenance LLP by Egis Infrastructure Management Kazakhstan LLP

The Operation & Maintenance Contractor is performing the functions of the operator for the BAKAD road ensuring smooth operation and maintenance and safety on the highway with the fleet of 32 specialized machinery and equipment. Almost 200 permanent jobs were created