Commerzbank is ready to organize a $800 m. loan for metro in Alma-Ata
06.07.05 11:08
/REUTERS, Almaty, July 6, 05/ - Commerzbank is ready to organize a
syndicated loan for up to $800 m. for building of metro in Alma-Ata, bank's
message says.
"Kazakhstanskaya pravda" newspaper on Wednesday published a letter
addressed to Nursultan Nazarbayev Kazakhstan's president dated May 11 of
2005 signed by vice-presidents of Commerzbank Katrin Aikh and Hans-
Ulrikh Betzoldt.
They write other institutions are also ready to act as creditors, guarantors
and insurers of loans, they are the state credit department of Germany
Hermes (about $327 m.), OPIC - US Corporation on foreign private
investments (up to $400 m.), Asian development bank (up to $200 m.).
Commerzbank's representatives do not exclude participation of Siemens
company, which supplies trains and locomotives, in the project.
Almaty Metro Municipal Corporation will deal with realization of the project
estimated at $1.2 bn., "Kazakhstanskaya pravda" without giving any details.
[2005-07-06]