OREANDA-NEWS. December 9, 2010. Kazakhstan Electricity Grid Operating Company (“KEGOC”) welcomes the decision of the Board of Executive Directors in the International Bank for Reconstruction and Development on Alma Electricity Transmission Project that keeps on partnership relations and successful experience of joint activity on Kazakhstan electric power infrastructure development.

Approval of USD 78 mln loan for the above project implementation was possible through support rendered by the Kazakhstan Government and relevant decisions made by the sole shareholder.

At present KEGOC jointly with IBRD (World Bank) team proceeds the procedure for signing the loan agreement which is expected to be concluded till the end this year upon receiving the sovereign guarantees. For this purpose a significant work has been done with governmental authorities in terms of obtaining the required permissions and expert assessments.

The loan service is expected to be from the Company own funds, this will enable avoiding additional load on state budget. On a long-term basis with the minimum interest rate this loan will allow reducing its influence on tariffs for KEGOC services consumers.

Alma Electricity Transmission Project is an integral part of Governmental Program of Boosted Industrial and Innovative Development. KEGOC is planning to implement this project within 2011-2014, this will provide for reliable power supply in Almaty and Almaty Oblast, power delivery from the first stage of Balkhash TPP (1320 MW) through establishment of energy ring in the Almaty power centre.