KEGOC to attract additional loan to reinforce country’s southern network

Kazakhstan Electricity Grid Operating Company (KEGOC) plans to attract an additional loan to reinforce the country’s southern network. Nabi Aitzhanov, Chairman of the Board of Directors of KEGOC said it at a briefing today, Kazinform reports.  

“We plan to implement this project. Approximately, 30% will be our own funds, and 70% will be attracted. We are currently discussing this issue with the Asian Development Bank and Development Bank of Kazakhstan. The terms of the loan are being formed. The interest rate and conditions will be discussed as well,” Aitzhanov said answering journalists’ questions.

He also spoke on the project of uniting western Kazakhstan with the single energy system.

“As for the project on western Kazakhstan, it has been included into the company’s development plan to unite western Kazakhstan with the single energy system. Initially, we planned to implement it in 2026-2026, but we will probably facilitate it,” he added.