Bank TuranAlem JSC (Kazakhstan) informed about financing of building of electro-metallurgic complex in Aktobe with cost $450 m.

/KASE, July 3, 07/ - Bank TuranAlem JSC (Almaty), securities of which are traded in Kazakhstan stock exchange's (KASE) category "A" official list had informed KASE that on July 3, 2007 in Aktobe had taken place the ceremony of laying the capsule to the foundation of future electro-metallurgic complex, including into itself the metallurgic production with power 500 th. tons of metal goods and gas-turbine electric station, processing 180 Megawatt of electric energy per year. According to the press-release, price of the project makes $450 m., the source o financing for realization of the noted project are loan funds, provided by the bank. Operator of the project is SBS Steel LLP. By information of the bank, it is supposed that project will be compensated during 8 years. On the plant is planning the creation of more than 3 th. working places. [2007-07-03]