/KASE, February 23, 2024/ – KazTransOil JSC (Astana), whose shares are
officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with
the following press release dated February 23, 2024:
quote
Kazakhstan-China Pipeline LLP (50% participation of KazTransOil JSC and 50%
participation of China National Oil and Gas Exploration and Development
Corporation) repaid the Industrial and Commercial Bank of China (ICBC) loan in
the amount of USD 540 million ahead of schedule.
In 2004-2008, to finance the construction of the Atasu - Alashankou and Kenkiyak
- Kumkol main oil pipelines, Kazakhstan-China Pipeline LLP raised borrowed
funds from international commercial banks totaling USD 1.6 billion. In 2018, the
balance of the loan in the amount of USD 540 million was refinanced by
concluding a loan agreement with the Industrial and Commercial Bank of China
(ICBC).
As a result of the early repayment of the loan, Kazakhstan-China Pipeline LLP
reduced interest costs by USD 1.73 million (796 million tenge).
Kazakhstan-China Pipeline LLP owns the Kenkiyak - Kumkol and Atasu -
Alashankou main oil pipelines. These oil pipelines are part of the Kazakhstan-
China oil trunk pipeline system and were built within the framework of the
Framework Agreement between the Government of the Republic of Kazakhstan
and the Government of the People's Republic of China on the development of
comprehensive cooperation in the field of oil and gas dated May 17, 2004.
unquote
The complete press release is available on:
-
https://kase.kz/files/emitters/KZTO/kzto_reliz_230224_kz.pdf – in Kazakh;
-
https://kase.kz/files/emitters/KZTO/kzto_relizs_230224.pdf – in Russian;
-
https://kase.kz/files/emitters/KZTO/kzto_reliz_230224_en.pdf – in English.
[2024-02-23]