The DBK financing will support will help to upgrade energy assets producing 17% of power and 20% of coal mining.

The DBK loan facility amounting USD 360 mln is provided to Eurasian Energy Corporation JSC (included into the Eurasian Group - ERG and hereinafter referred to as the EEC) for 8 years, with the total cost of the Project equal to USD 463.2 mln.

The project provides reconstruction and upgrade of:

  • power unit No. 5 of Aksu PP allowing to increase its capacity 300 to 325 MW, increase the equipment service life by 30 years, decrease fuel consumption and operational costs, improve environmental and quality characteristics of the power plant;
  • ash and sludge collector, as well as coal warehouses at the Vostochny coal mine; building of cyclic-flow stripping facility ensuring better coal production conditions through transportation of 10 mln m3 of extra overburden from the mine.

The power unit No. 5 is planned to be completely reconstructed in the first half of 2019, the stripping facility is planned to be reconstructed in 2020 as well as the stripping facility construction.

"Development of production infrastructure being an integral part of the DBK mandate has the important meaning for such power consuming industries as aluminium and ferroalloy producing ones. DBK opens financing for the modernization of the largest energy assets on the territory of our country, providing electricity to metallurgical enterprises in three regions of the republic, " said Aizhan Bitebayeva, senior banker of the client service department of the DBK.

In his turn, the President of the ECE Valery Grinenko noted that the Bank-financed Project aims, in particular, to increase the reserve of power, reliability and durability of the Aksu power plant equipment, improve its production characteristics and environmental parameters. "Today, the Eurasian Energy Corporation provides electricity to nine cities in the country and produces about 15 billion kilowatt hours per year. The enterprise accounts for about 20% of the coal produced in Kazakhstan, " said the ECE head

To date, Aksu power plant with an installed capacity of 2,450 MW annually produces 15.7 billion kw / h per year. 86% of this volume is supplied to ERG enterprises located in Pavlodar, Aktyubinsk and Kostanay oblasts (Aksu Ferroalloy Plant, Kazakhstan Electrolysis Plant, Donskoy Ore Mining and Processing Industrial Complex, Kazmarganets Mine), the remaining 14% are supplied to the unified energy system of Kazakhstan.

Section "Vostochniy" provides the power plant with fuel. In 2017, 17 million tons of coal were mined in the section, this year it is planned to produce 18 million tons.

JSC "Development Bank of Kazakhstan" (DBK) -National Institute of Development for the modernization and development of non-raw and infrastructural sectors of the economy of Kazakhstan, created in 2001. Main areas of activity: development of industrial infrastructure and manufacturing industry, promotion and attraction of external and domestic investments into the country's economy. DBK acts as one of the largest investment operators of state programs of industrial and innovative development. DBK belongs to the structure of JSC "National managing Holding" Baiterek ".

Eurasian Energy Corporation (ECE) is part of the Eurasian Group. ECE is one of the largest suppliers of electricity and coal in Kazakhstan. The enterprise accounts for more than 17% of all generated electricity and about 20% of the coal produced. The ECE unites three structural units: Aksu power plant, coal mine "Vostochny" and Production repair division. The main areas of production: power generation, coal mining, energy and mining equipment repair.

Eurasian Resources Group (ERG) is one of the world's leading and most diversified companies in the extraction and enrichment of natural resources, with fully integrated mining, processing, energy, transportation and marketing operations. The group is represented by enterprises and business development projects in 14 countries on four continents and is one of the largest employers in the industry. In 2014 Eurasian Resources Group celebrated its 20th anniversary. The head office of the management company is located in Luxembourg.

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