Development Bank of Kazakhstan says construction of Akshabulak gas-turbine power station finished

/KASE, July 12, 12/ - JSC "Development Bank of Kazakhstan" (Astana), whose bonds are officially listed at Kazakhstan Stock Exchange (KASE), today provided KASE with the following press-release: quote Three gas turbines with a total capacity of 87 MWt (GTPS) have been put into operation at oilfield Akshabulak in Kyzylorda region. The investment project of LLP "Kristall Management" (Project) with a total cost of KZT19.6 bn was implemented under financial support from JSC "Development Bank of Kazakhstan" (DBK). The Project's initiators jointly with DBK raised investments from the Japan Bank for International Co-operation JBIC, CITI BANK of Tokio, BNP Paribas. The Project's goal is solving the problem of utilization of associated gas and reducing the lack of electric energy in the region. "During the construction of GTPS state-of-the-art equipment from th US, Japan and Finland was used. On most oilfields associated gas is burned up in torches. Akshabulak GTPS will utilize it, i.e. ecologic problems of the region are solved", - pointed out the managing director - member of DBK's Management Board Dauletkhan Kilybaev. During the project implementation in 2010-2012 gas turbine stations were erected and relevant infrastructure created. At the account of new generating capacities the electricity supply scheme was improved at oilfields Kumkol and Akshabulak. Around the GTPS were built an evaporating pond, water intake wells and a rotation camp. Since the GTPS's launch 93 workplaces have been created. The construction of the GTPS was carried out under the Program of accelerated industrial and innovative development. Also, the Project was included in the government program for development of electric energy and the list of Kazakhstan's strategic investment projects. LLP "Kristall Management" was founded in 2008. Main activities of the company include operation of gas pipelines, gas turbine power station, production and marketing of electric energy. unquote [2012-07-12]