KMG takes out a USD 700 mln loan to complete Beineu-Bozoi-Shymkent gas pipe

BEIJING. KAZINFORM KazMunayGas JSC has taken out a USD 700 mln loan from China Development Bank for the completion of the Beineu-Bozoi-Shymkent gas pipeline. The signing ceremony took place today in Beijing, our corespondent reports.

The term of a loan is 15 years. KazTransGas JSC, a KMG subsidiary, will forward the loan proceeds to building a 311 km long Beineu-Bozoi linear section and a compressor plant in Karaozek in the Kyzylorda region. The pipeline construction is expected to come to an end in 2014.