Financial Times FT.com

Kazakh dreams depend on oil - but will nation's wealth be wisely spent?

By Arkady Ostrovsky

Published: January 28 2005 02:00 | Last updated: January 28 2005 02:00

In hazy winter light the newly built capital of Kazakhstan appears like a mirage rising from a bleak and windswept plain. Built from metal and glass, dominated by a tall white tower with a golden egg on top, Astana projects Kazakhstan's aspiration to be a modern, rich and powerful country in Central Asia.

But the extravagant capital is also a reminder of the dangers awaiting this oil-rich republic.

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