ABN AMRO to give Kazakhstan railway a $122 m. loan un the security of US Eximbank for purchasing equipment from General Electric

/INTERFAX-KAZAKHSTAN, Astana, November 2, 04/ - ABN AMRO bank will give Kazakhstan temir zholy a $122 m. loan un the security of Export- import bank of the USA for purchasing equipment from General Electric. Necessary agreements were signed on Monday in Washington in Eximbank's headquarters, says the press-release of Kazakhstan embassy in the USA, which was spread on Tuesday. As the message says, the loan is meant for purchasing from General Electric 200 sets for modernization of 100 diesel-electrical locomotives. "This contract is the biggest one for Eximbank in the context of cooperation with any railway company in the world. The great volume of financing demonstrates our confidence in the company and in the government of Kazakhstan, in their devotion to free market principles", - said Eximbank's chairman Fillip Merrill, whose speech is given in the press-release. Vice-president of KTZh Zhannat Satubaldina has noted the value of the agreements for further development of Kazakhstan railway, notes the press- release. She says 70% of all cargo transportations are made by railway. In 2003 volume of cargo transportations of KTZh was 180 m. tons and in 2004 this indicator is to grow up to 200 m. tons, mainly due to transit cargoes, said Satubaldina. A representative of General Electric has expressed the hope for further development of cooperation with KTZh. As the press-release says in December of 2003 Eximbank and KTZh made similar agreements about purchasing from General Electric 54 sets for 27 diesel-electrical locomotives for a total of $33 m. [2004-11-02]