On 30 November 2017, to reduce the debt burden, KEGOC early repaid EUR 44.3 million of four semi-annual payments for 2019-2020 under EUR 228.41 million loan extended by the European Bank for Reconstruction and Development for the implementation of Kazakhstan Electricity Transmission Rehabilitation Project, phase 2.
The Project's goal is to ensure the reliable and safe operation of the National Power Grid, increase the efficiency of the electricity market operation, improve the reliability and quality of power supply to consumers, enhance the technical and environmental safety of high-voltage equipment, reduce operational costs for equipment maintenance and repair.
The balance outstanding principal for the loan under the project Kazakhstan Electricity Transmission Rehabilitation Project, phase 2 as of 1 December 2017 is EUR 43.1 million.
Thus the total amount of debt to the European Bank for Reconstruction and Development and the World Bank for Reconstruction and Development as of 1 December 2017 is USD 169.23 million and EUR 43.13 million (equivalent to KZT 72.93 billion).
About the Company
KEGOC is the System Operator of the Unified Power System of Kazakhstan, and it owns and manages the assets of the National Power Grid (NPG). The company is the natural monopoly. It owns about 25,000 km of 0.4-1,150 kV electricity transmission lines and 78 electrical substations with 36.7 GVA of installed transformer capacity. These lines and substations form the NPG. The company employs more than 4.7 thousand people. More detailed information about the Company is available at its corporate website: www.kegoc.kz.