Industrial & Commercial Bank of China (Almaty) finances largest wind power plant in Central Asia together with its partners

/KASE, October 28, 2020/ – Industrial & Commercial Bank of China (Almaty), a member of the Kazakhstan Stock Exchange (KASE, hereinafter, ICBC Almaty in the quotes), provided the following press release KASE dated October 28, 2020: quote ICBC Almaty, together with the Asian Infrastructure Investment Bank (AIIB) and the European Bank for Reconstruction and Development (EBRD), has financed the construction of the first phase of the Zhanatas wind power plant in Zhambyl region for the total amount of US $95 million. ICBC Almaty is the first international commercial bank and the first STB in Kazakhstan to participate in project financing in a syndicate with international development banks. The project is sponsored by China Power International Holding, a Chinese state energy corporation, and Visor, a Kazakh investment holding company. Zhanatas project launched its partial commercial activity in October 2020. Full capacity launch is expected in the first half of 2021. ICBC Almaty, together with its international partners, will continue to actively participate in the implementation of infrastructure development projects in Kazakhstan. ICBC Almaty has been operating in Kazakhstan since 1993, and it is the first international bank registered in the independent Republic of Kazakhstan. ICBC Global Group has participated in financing projects worth US $24 billion over the past 27 years. unquote [2020-10-28]