KazTransOil CJSC (Kazakhstan) made first payment on loan offered by Sumitomo Fujikura Consortium

/IRBIS, August 29, 02/ - Today KazTransOil CJSC (Astana) press-service distributed press-release, where it was said that on August 28 of the current year the company made the first installment payment under the contract, made on June 08, 2001 with Sumitomo Fujikura Consortium (Japan), on delivery and installation of fiber-optic line (FOL) equipment. The sum of the contract amounts to $32,168,782.59. The FOL project is directed to creation of modern manufacturing and technologic system of communication, organization of high-quality channels and information applications on the basis of fiber-optic line for KazTransOil CJSC objects along oil mainlines with total length of 1,810 km. Sumitomo Fujikura Consortium offered the company the trade loan totaling $22,393,525.25 with installment payment for 6 years and interest rate of 3.75% + LIBOR BOTM. Yesterday the company made the first installment payment against settlement of principal amount - $538,479.36 and interest - $294,535.08. [2002-08-29]