Investment Projects

Construction of a modern high-tech tomato greenhouse complex

  • Indicator Results
  • Investment amount, thousand US dollars 17 705
  • NPV of the Project thousand, US dollars 6 911
  • IRR, % 27,7%
  • EBITDA yield, %
  • Payback period, years 5,37
  • Discounted payback period, years - - 8,04


Upon reaching full design capacity by 2025, the projected sales volume of tomatoes is 3,850 tonnes /year.

The structure of product sales is as follows:

  • Domestic market – 1,925 tonnes (or 50%);
  • Export to Russia – 1,925 tonnes (or 50%).
Project description

The Project involves the construction of a modern greenhouse complex with a total area of 5 ha for the cultivation of tomatoes. The implementation of the Project is planned in Geologichesky village near Zhezkazgan on a land plot of 7 ha. The initiator has registered a land plot of 7 ha, of which 5 ha are allocated for the construction of a greenhouse complex.


Initiator of the project is Zhez Green Organic LLP. The Company was established in 2017 to build a modern high-tech greenhouse complex for growing tomatoes and does not have an operating business.


  • The gross harvest of tomatoes in Kazakhstan in 2022 was 801,000 tonnes, with an average annual growth rate of 1.2% in 2018-2022.
  • Tomato harvest was stable in 2018-2022, averaging 26 tonnes per ha. • The total area of greenhouses for growing tomatoes in 2022 was 689 ha, 1% more than in 2021.
  • As of 2022, the volume of vegetable oil consumption in Kazakhstan amounted to 852 thousand tonnes, with an average annual growth rate of 1.3% over the period 2018-2022. In 2022, per capita consumption of tomatoes in Kazakhstan was about 43 kg.
  • In 2022 imports of tomatoes reached 68 thousand tonnes, 42% more than in 2021. The main suppliers of tomatoes to the Kazakhstan were Uzbekistan (34 thousand tonnes) and Turkmenistan (31.2 thousand tonnes).
What is the attractiveness of the project?

  • Environmentally friendly products and year-round harvest. Environmental tomato growing without the use of genetically modified materials is an advantage over imported tomatoes and allows to occupy a certain niche in the consumer basket. Heating and artificial lighting systems ensure year-round harvesting.
  • Import substitution. The construction of the greenhouse complex will reduce the volume of tomato imports to Kazakhstan (68 thousand tons in 2022) and provide the domestic market with quality domestic products.
  • Geographical location. Developed and ramified system of railroads, existing in the region, allows organizing both raw material delivery and delivery to neighboring countries and abroad. Access roads connect the complex with highways of national and regional importance, with access to the neighboring regions of Kazakhstan and the Russian Federation.
Investment proposal

The Project requires investment of US$ 17,705 thousand (at the rate of 449.2 tenge), of which

  • 100% (US$ 17,705 thousand) – debt financing subject to collateral;

The proposed financing structure and state support measures are indicative. The final financing structure and Project interests will be determined based on the results of negotiations with the investor.

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