Nurlan Zhakupov, the CEO of the Fund held a meeting with the EBRD leadership.

The parties discussed issues of cooperation and support for investment projects of the Group.

At the meeting, KEGOC JSC and the EBRD signed a Loan Agreement for up to KZT141 billion, including an agreement with the Development Bank of Kazakhstan for up to KZT32 billion.

“The funds will be used to build a 500 kV power transmission infrastructure with a length of about 600 km. This is the construction of Karabatan-Ulke line along Atyrau-Aktobe highway and the 500 kV Karabatan substation. And for the expansion of switchgears at Karabatan (220 kV) and Ulke (500 kV) substations. This will allow the integration of the energy system of Western Kazakhstan into the Unified energy system of the country. The capacity of the Western Zone will be increased to 500 MW,” Nurlan Zhakupov, the Head of Samruk-Kazyna, said at the signing ceremony.

Effect of the project implementation:

- improving the reliability of power supply;

- using maneuverable generation to compensate for electric energy and power imbalances;

- improving the energy security of the western regions.

The signing of agreements with financial institutions once again confirmed the transparency of the Fund procurement, which permitted them to be applied to the project with KEGOC JSC, Zhakupov added.

In October, the President Kassym-Jomart Tokayev has held a meeting with the EBRD President, Odile Renaud-Basso, who positively assessed the procurement procedure of Samruk-Kazyna JSC.

She noted that the creditor companies conduct procurement according to the rules of the Fund, which indicates confidence in the procurement processes of the Samruk-Kazyna group and their transparency.

The European Bank for Reconstruction and Development is involved in energy, mining, oil and gas and transport projects of portfolio companies of the Fund.

The EBRD will continue to work closely with the Samruk-Kazyna group of companies on implementing strategic investment projects.