EDB to finance the development of an automated control system for Transtelecom
Astana, 2 April 2013. Today Eurasian Development Bank (EDB) and Transtelecom, a subsidiary of Kazakhstan Temir Zholy (KTZ), signed a loan agreement pursuant to which EDB will finance an investment project titled Energodispetcherksaya Tyagi in Russian.
In accordance with the agreement EDB will provide
The project will develop and launch an automated system for the control of power and fuel consumption in rail operations. To this end, KTZ will equip its diesel and electric locomotives with high-precision equipment. In addition to this, a real-time data collection and analysis system will be developed.
The project is expected to contribute the sustainable development of the country’s economy. «The new automated system for controlling rail operations in Kazakhstan will help improve the energy efficiency of its economy, reduce the consumption of resources in the rail sector and advance the transport infrastructure,» says Kanat Dosmukametov, Deputy Chairman of the EDB Management Board. «Preliminary estimates let us suggest that the project will help to save diesel fuel and electric power used in the rail sector. The project objectives are in line with EDB’s strategy to promote an efficient use of natural resources and reduce the negative impacts on the environment.»
EDB experts estimate that the project will have a positive effect on Kazakhstan’s economy and increase its output by more than US $40 million a year.
Additional Information
Transtelecom JSC is one of Kazakhstan’s top telecommunications operators. The company provides long-distance and local telephony services, Internet access and fibre optic communications. As a top-level operator the company provides services to private and corporate customers and to state-owned companies.
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.