KEGOC has early repaid the loan of the European Bank for Reconstruction and Development

English

To improve the financial stability of KEGOC, reduce the leverage, mitigate FX, interest and other risk exposure, and cut the costs, KEGOC on 5 January 2017 early repaid the loan No.42039  extended by the European Bank for Reconstruction and Development in 2011 in the amount of USD 151.9 million to implement Ossakarovka Electricity Transmission Rehabilitation Project.

The first USD 70.2 million tranche of the partial early repayment was paid on 7 December 2016. The amount of liabilities under the above loan on 31 December 2016 amounted to USD 27.4 million. Within the effective period of the loan agreement, KEGOC did not allow any default of its liabilities. 

The goal of Ossakarovka Electricity Transmission Rehabilitation Project was  to improve the reliability of power supply to the Astana consumers and meet the growing electricity demand of the city and newly constructed facilities in the industrial zone of Astana. The project rehabilitated the double circuit 220 kV TsGPP - Ossakarovka electricity transmission line (118.7 km) and 500 kV TsGPP substation.