Kazakhstan's rail roads plan to issue eurobonds on the sum of $100-150 mln

/IRBIS, June 12, 00/ REUTERS informs that Kazakh state rail roads plan to borrow $100-150 mln on the international capital markets by the end of the year. The news was announced on the briefing held on Druzhba (Friendship) terminal (Kazakhstan-China border) by the head of "Kazakhstan Temir- Zholy," Ablay Myrzaakhmetov. The company's chief reported: "We expect to receive credit rating right after the conclusion of the company's auditing." The funds will be invested in the development of the company. Ernst&Young plans to conclude the audit for 1998, 1999 by the end of this week. Kazakhstan Temir-Zholy manages the rail road network of the largest Central Asian state, which is five times bigger than France. The purpose of the visit was examination of rail-road infrastructure owing to the tenth anniversary of Druzhba terminal. The first transportation trains started circulation in 1991, the passenger ones in 1992. From Chinese part, Alashankou terminal provides the operation of the rail-road. Druzhba terminal is located on the Kazakhstan-China border and provides export-import transportation between two states as well as transit for third countries. Kazakhstan plans to increase turn over of the terminal to 4.4 mln tons in 2000 from 3.5 mln in 1999, mainly, due to the rise in transit of oil and ferrous metals.