In Mangistau oblast debut investment project launched at the expense of pension funds

/Kazakhstan today, May 18, 05/ - Within frameworks of first in Kazakhstan investment project "Transfer of URPS Karazhanbas for 220 kW projected voltage (first construction stage), on May 17 at Karazhanbas oil field the launch of the first stage of Buzachi electricity distribution complex (EDC) took place, KZ correspondent reports. Mangistau electricity distribution company (MEDC) holds the projects. According to company's president Mailybai Aimagambetov for the first time in its history the project is being implemented thanks to successful floatation of bonds by MEDC on Kazakhstan Stock Exchange (KASE) for a total face value of KZT560.9 m. Pension funds and commercial entities were the main investors. According to him a shift of URPC Karazhanbas from 110 kW to 220 kW will enable to create favorable conditions for further canalization of oil output growth and provide better electricity supply on the part of Buzachi energy center and lower related accidents rate and thereby provide pumping stations at Karazhanbas, Kalamkas and North Buzachi with permanent electricity supply. Taldykorgan-based ASPMK - 10 company acted as subcontractor in regards to installation and engineer works. Designing estimates were prepared by Energia institution. Project was completed in 12 months. As Serik Suleimenov, the president of Kazakhstan utilities systems JSC (KUS) told the implementation of the II turn of Buzachi energy center would provide 100% reliability with respect to permanent electricity supply and enable to settle issues of electricity supply suspensions. S.Suleimenov noted that this project is the very first followed by number of other planned by MEDC JSC. In the nearest future II stage of the investment program - exploitation of URPS Karazhanbas for 220 kW will be launched. It is also planned to repair grid networks in Fort Shevchenko and Kuryk settlement. A reconstruction of substation at Uzen field is planned. In general the KUS aims to improve utilities services it renders to the general public, improvement of major facilities it operates and promote competition. Golas can be made attainable with the help of regional utilities companies and municipalities. [2005-05-18]