EBRD appointed Ordabasy Energy LLP (Kazakhstan, daughter company of Corporation Ordabasy OJSC) as the managing company of Karagandy Zhylu LLP (Kazakhstan)

/KASE, December 8, 03/ - Corporation Ordabasy OJSC (Almaty), whose bonds are circulating in the official "A" listing category of Kazakhstan stock exchange CJSC (KASE), has presented KASE press-release, according to which on October 24 of 2003 European Bank for Reconstruction and Development (EBRD) appointed Ordabasy Energy LLP (Karaganda), which is in the structure of Corporation Ordabasy OJSC, as the managing company of Karagandy Zhylu LLP (Karaganda, production of heat- and electrical power in Karaganda city). Choosing Ordabasy Energy LLP as the managing company relative to Karagandy Zhylu LLP, which on December 17 of 1998 received a loan from EBRD in the amount of USD22.5 m. till the year 2009, was caused by the fact that Ordabasy Energy LLP had experience in selling, distributing and generating heat- and electrical power. Ordabasy Energy LLP was founded in April of 2003 with 100% stake of participation of Corporation Ordabasy OJSC in its authorized capital (KZT87.2 th.). Primary activities of Ordabasy Energy LLP - sale, transportation and distribution of electrical power. Primary activities of Corporation Ordabasy OJSC - trade-intermediary and foreign economic activities, building, organization of entertainment and catering. [2002-12-08]