Eurasian Development Bank set to finance construction of new block at Abakan thermal power plant

/KASE, June 19, 12/ - Eurasian Development Bank, whose bonds are officially listed at Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release of June 19, 2012: quote Eurasian Development Bank's (EDB) Council endorsed the Bank's participation in financing the construction of a new unit at the Abakan combined heat and power (CHP) plant for a total of up to RUR 9 billion. The loan facility agreement with Yenisei TGC (TGC-13), a branch of which is the power plant, is expected to be signed in July 2012. The Abakan CHP plant is a coal plant. It is the largest power enterprise in the Republic of Khakassia and the main supplier of thermal power for the town of Abakan. The plant supplies heat to approximately 77% of consumers in the town's housing and utilities sector. Industrial enterprises, including Ayan and Abakanvagonmash, are also major consumers of thermal power. EDB's investment financing is provided in the framework of TGC-13'slarge- scale investment programme. The fourth turbine generator is planned to be installed at the Abakan CHP plant to meet the increased load caused by higher electricity demand and growing construction in Abakan's housing and utilities sector. The new 120 MW unit is planned to be commissioned in October 2013. The project provides for the launching of new generating facilities in Eastern Siberia, which will create conditions for the development of economy, primarily Khakassia's industrial, housing and utilities infrastructure, and for ensuring sustainable economic growth in the regions where TGC-13 operates. For additional information please contact: Yulia Ostroukhova, +77019912843 Mikhail Mzareulov, +7 9032446025 pressa@eabr.org unquote [2012-06-19]