Kazakh-Chinese Mangistau Investments pays off China Exim Bank's loan early

ASTANA. July 4. KAZINFORM The Mangistau Investments B.V. (MI BV) Company which is a joint venture of the KazMunaiGas (KMG) national company and Chinese national oil company CNPC, paid off a loan to the Export-Import Bank of China (China Exim Bank) ahead of time, KMG said on Wednesday.

'A loan worth $2.8 billion maturing in November 2019, was drawn in November 2009', a statement said. 'The borrowed funds were used to acquire 100 per cent of the ordinary shares of the Mangistaumunaigas Company'.

Mangistau Investments B.V. controls 99 per cent of Mangistaumunaigas's shares which is one of Kazakhstan's largest oil producing enterprises. KMG and CNPC own Mangistau Investments BV on a parity basis, Kazinform refers to trend.az.