EDB finances the connection of a large consumer to the North Kazakhstan - Aktobe Region transmission line

Almaty, 5 July 2012. Eurasian Development Bank (EDB) has provided an additional loan facility for a total of KZT 3.1 billion to Kazakhstan’s Batys Transit in the framework of the project to construct the North Kazakhstan — Aktobe Region interregional electric power transmission line.

To implement this investment project EDB signed a loan agreement in 2008 to provide this concession company a seven-year US $30.5 million loan. The project was successfully completed and the transmission line was commissioned as early as in 2009.

The new loan facility is provided by the Bank until the end of the original loan period, i.e. December 2015.

The loan will be used to connect a new large electric power consumer to the North Kazakhstan — Aktobe Region transmission line, which will ensure its full load. In particular, the Bank finances the construction of two single-circuit 220 kV transmission lines of 45 km each from the Ulke substation to the Aktobe ferroalloy plant where a new high-carbon ferrochrome shop is being constructed.

Additional Information

Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital exceeds US $1.5 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan. Read more at https://www.eabr.org.