Investment Projects

Breeding, cultivation, processing of fish products in Almaty region

  • Indicator Results
  • Investment amount, thousand US dollars 23 304
  • NPV of the Project thousand, US dollars 10 267
  • IRR, % 24,0%
  • EBITDA yield, %
  • Payback period, years 7,00
  • Discounted payback period, years - - 10,58


The following sales volumes are planned at full design capacity in 2029: carp – 470 tonnes, sazan – 353 tonnes, grass carp – 165 tonnes, silver carp – 165 tonnes, trout – 470 tonnes, zander – 353 tonnes, processed fish – 376 tonnes. Fish is sold in live, frozen and chilled forms. The structure of product sales is as follows: • Domestic market – 50%; • Export – Russia (25%), China (10%), Uzbekistan (7,5%), Kyrgyzstan (7,5%).

Project description

The project involves expansion of the existing fish farm for breeding, cultivation and processing of fish products on a land plot of 155 ha in B. Kydyrbekuly village of Almaty region.


The initiator of the project is Aiho LLP. Aiho LLP was founded with the purpose of creating a fish farm for the breeding, cultivation and processing of fish products. Currently, the company produces 140 tonnes of fish products annually. The Initiator has at his disposal a land plot of 155 ha. Water and power supply infrastructure is connected to the land plot.


  • In 2022, global imports of live fish reached $2,642 million. USA, which is $ 518 million. The United States is larger than last year's figure. In 2022, the total volume of marketable fish grown in the Republic of Kazakhstan amounted to 13.3 thousand tons, which is 82% more compared to 2021. At the end of 2022, carp (19%), trout (15%), pike perch (16%) and carp (14%) occupied significant shares in the structure of farmed fish in the Republic of Kazakhstan.
  • At the end of 2022, imports of live fish to the Republic of Kazakhstan reached 177 tons, which is 14% less than in 2021. The main suppliers of live fish to the Republic of Kazakhstan were Russia (142 tons), Uzbekistan (18 tons), China (11 tons) and Kyrgyzstan (5 tons).
  • In 2021, the volume of live fish imports in Russia and Kyrgyzstan amounted to 2.03 thousand tons and 107 tons, respectively. In 2022, the volume of live fish imports in China and Uzbekistan amounted to 29 thousand tons and 8 thousand tons.
What is the attractiveness of the project?

  • Beneficial location. Locating production in Almaty oblast provides access to a large market for the southern regions of the country (over 3.7 million people live in Almaty oblast and Almaty city alone). This region also has a developed and extensive road transport and logistics infrastructure that connects it to the regions of the country and neighboring countries.
  • Experience. The company annually produces about 200 tonnes of fish products under its own brand name using modern technology. Manufactured fish products are sold both in the domestic and foreign markets.
  • Organic products. Only organic food and minerals are used for fish farming. This approach to farming contributes to the creation of environmentally safe and sustainable products that meet modern market requirements.
Investment proposal

Project requires investment of 23,304 thousand USD (at the rate of 449.2 tenge), of which:

  • 70% (16,313 thousand USD) – is debt financing subject to collateral;
  • от 30% (6,992 thousand USD) – investor participation.

The proposed financing structure of 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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