Kazakhstan’s KEGOC makes early semi-annual payments on EBRD loan

Business Materials 15 December 2017 20:39 (UTC +04:00)

Baku, Azerbaijan, Dec. 15

By Ali Mustafayev – Trend:

Kazakhstan’s KEGOC JSC made four early semi-annual payments for 2019-2020 in the amount of 44.3 million euros on November 30 for a 228.41 million euro loan from the European Bank for Reconstruction and Development, attracted in 2008 for implementation of the "Modernization of the National Electric Network of Kazakhstan, Stage 2" investment project.

The repayment was made in order to reduce the debt burden of the company, Kazakh Stock Exchange said in a message.

The purpose of the project is to ensure the reliable and safe operation of the National Electric Network, increase the efficiency of the electricity market, as well as reliability and quality of power supply to consumers, technical and environmental safety of high-voltage equipment and to reduce operating costs for equipment maintenance and repairs.