EDB Participates in Financing of 500-KV North Kazakhstan—Aktyubinsk Oblast Power Transmission Line

Aktobe, 14 December 2008. Today Karim Masimov, Prime-Minister of the Republic of Kazakhstan, during his business trip in Aktyubinsk Oblast, attended the launch of the North Kazakhstan—Aktyubinsk Oblast inter-regional power transmission line.

To implement this project, the EDB executed a loan agreement under which Batys Transit concessionary company will be provided with a $30.5-million loan for seven years. Other parties of this transaction are the Samruk-Kazyna National Prosperity Fund and KEGOK, the operator of the unified grids of the Republic of Kazakhstan.

The loan was provided as part of the investment project Construction of the North Kazakhstan—Aktyubinsk Oblast Inter-regional Power Transmission Line, which is being implemented by the government and the private sector to assist the development of the power industry in Kazakhstan.

The new facility will expand the unified grids of Kazakhstan and cover the increasing power shortages in western regions with supplies from northern regions.

The project is in line with the mission and strategy of the EDB, as it assists the development of power infrastructure in Kazakhstan and the overall economic growth, and ensures sustainable power supply to regions bordering Russia.