/KASE, December 5, 07/ - On November 29 European bank of
reconstruction and development (EBRD) published on its web site (at
http://www.ebrd.com/new/pressrel/2007/index.htm) the press release saying:
beginning of quote
EBRD will grant a loan to the sum of $30 m. for modernization of heat
station-3 to PAVLODARENERGO JSC.
The bank supports the plan of measures for development of electrical power
industry of the Republic of Kazakhstan
EBRD gives support to Kazakhstan in realization of the Plan measures for
development of electrical power industry by granting a loan to the amount of
30 m. US dollars for reconstruction and modernization of heat station-3 to
PAVLODARENERGO JSC.
Investments will be allocated on acquisition and installation of new
turbogenerator, which will allow improving the efficiency of fuel combustion
and will result in reduction of emission of carbon oxide per unit of energy
output. Investments will allow increasing the efficiency of the heat station's
operations, enhancing operating capacity to satisfy the growing demand of
industrial and housing sectors in Pavlodar on electrical and thermal energy,
and also contributing to improvement of ecological standards on the heat
station.
High growth power-consuming economy of Kazakhstan provokes sharp
growth of demand for electrical and thermal energy, requires significant
investments in the energy sector. At present, the Government of Kazakhstan
jointly with EBRD elaborate the Plan of activities for steady power
engineering that would provide for preservation and rational use of energy
resources, and also efficient and steady supply of electrical and thermal
energy.
Heat station-3 of PAVLODARENERGO JSC with fixed capacity of 440
Megawatt is the second biggest thermoelectric power station in Kazakhstan.
Pavlodar with the population of 300.000 persons is located on north-east of
the country and is industrial city with dynamically developing big power-
consuming industrial businesses.
Nandita Parshad, director of EBRD for energy sector said that this project
demonstrates the readiness and capability of the bank to support the efforts
of Kazakhstan, targeted on steady growth of economy, its diversification and
competitiveness. Realization of the project will give support to the local
private business through more efficient supply of electrical and thermal
energy, she added.
Erkyn Amirhanov, Chairman of the Board of directors of
PAVLODARENERGO JSC declared that "receiving the loan from EBRD
represents an important milestone in our development, particularly, in the
ability of our company to raise competitive long-term financing from
international financial institutions".
As of today, EBRD has invested about 2.5 bn. US dollars in different
projects that support the economical diversification, entrepreneurship
activities and creation of new working places in Kazakhstan.
Press contact:
Axel Reiserer, Tel: +44 20 7338 7753;
E-mail: reiserea@ebrd.com
end of quote
[2007-12-05]