World bank intends to approve $140 mln loan to Kazakhstani company KEGOC till the end of the year

/IRBIS, Dec.22, 99/ - PRIME-TASS informs, with the reference to the source at World bank representative in Kazakhstan, that Board of directors of the World bank plans to approve $140 mln loan to Kazakhstani company for managing electric networks /KEGOC/ till the end of 1999. It is said, these funds will be used to modernize 93 substations by replacing their high voltage equipment and protection relays, setting up SCADA/EMS telephone system, restructuring electric and energy sector of the country by transforming KEGOC into centralized electric network. Total cost of the project, including interests during the construction and the taxes, is estimated at 280 mln dollars. The company is expected to receive 46 mln dollars from EBRD in addition to the loan of the World bank. Remaining funds should come from company's own funds. Currently, the company is preparing legal documents for the loan.