Commerzbank is ready to organize a $800 m. loan for metro in Alma-Ata

/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]