Subsidiary Bank Sberbank of Russia announces partnership with Kazakhstan Utility Systems in transaction involving purchase of Ust-Kamenogorskaya and Sogrinskaya TPP

/KASE, June 15, 2017/ – Subsidiary Bank Sberbank of Russia (Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release of June 15, 2017: quote Sberbank became a partner of Kazakhstan Utility Systems LLP under the transaction aimed at purchasing of Ust-Kamenogorskaya and Sogrinskaya TPP; the Bank provided a credit line. "Electric power is a strategic and highly demanded resource for the Kazakhstan economy and production facility development. In our view, this transaction will promote the improved competitiveness of production enterprises located in the Eastern part of the country, while common Kazakhstan citizens will receive high-quality service in terms of heat and power supply", Yeldar Tenizbayev, Deputy Chairman of the Management Board of SB Sberbank JSC for Corporate Business, mentioned Ust-Kamenogorskaya TPP is the major electric power generator in East Kazakhstan Region. The thermal power plant provides heat to large production enterprises and covers 80% of the load of the utility sector of the town. Sogrinskaya TPP provides heat and hot water to approximately 4,000 users in Novaya Sogra, Raduzhny, and Solnechny settlements. Besides, Sogrinskaya TPP provides power for some production enterprises of Ust-Kamenogorsk. unquote [2017-06-15]