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EBRD may issue loan for heating project in Aktau

Kazakhstan Materials 8 October 2011 10:28
The EBRD is considering providing a 1.2 billion tenge (€ 5.7 million) to the Kazakh State Communal Enterprise “Heating, Water Networks and Wastewater”.
EBRD may issue loan for heating project in Aktau

Azerbaijan, Baku, Oct. 9 / Trend , G.Dadashova /

The EBRD is considering providing a 1.2 billion tenge (€ 5.7 million) to the Kazakh State Communal Enterprise "Heating, Water Networks and Wastewater", a water and district heating company in the city of Aktau, to support the rehabilitation and upgrade of the district heating (DH) distribution network in Aktau, the bank reported.

The project is aimed at replacement of parts of the obsolete district heating networks operated by the Company with pre-insulated modern technology pipes in order to reduce energy and water losses, increase reliability and quality of provided heat and hot water sevices, reduce maintenance and operation costs as well as reduce the negative environmental impact, both locally and globally.

The EBRD will provide a senior corporate loan to the Company in the amount of up to KZT 1.2 billion (€ 5.7 million).
Project Cost is 3.47 billion tenge (€ 16.44 million) including related technical cooperation to support the Company with the project preparation and implementation.

It is expected that the EBRD loan will be supplemented by a 0.63 billion tenge (€ 3.00 million) Clean Technology Fund ("CTF") co-financing loan.

The following technical co-operation ("TC") funds are envisaged as part of this project: Preparation of a feasibility study with detailed PIP, € 72,965, financed by the EBRD Early Transition Countries Fund; Project Management Consultants to assist the Company with the project management, design, procurement, engineering and supervision of works, up to € 400,000 to be financed by an international donor or the EBRD Early Transition Countries Fund.
ince the beginning of its operations in Kazakhstan, the EBRD has invested over €2.8 billion in over 130 projects in various sectors of the Kazakh economy, mobilising additional investments in excess of about €6 billion.

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