ID :
187090
Wed, 06/08/2011 - 04:50
Auther :
Shortlink :
https://oananews.org//node/187090
The shortlink copeid
CAPASIA ACQUIRES STAKE IN KAZAKHSTAN PRIVATE ENERGY COMPANY
ASTANA (Bernama) - CapAsia, a private unit of the CIMB
Group Tuesday signed an agreement to acquire a 12.9 per cent equity in
Kazakhstan's Central Asian Electric Power Corporation (CAEPCO) for US$50
million.
The deal signed between CapAsia and Central Asian Electric Power and Energy
Company (CAPEX), is CapAsia's first investment in Central Asia and largest
single investment to date.
CIMB Group Chief Executive Nazir Tun Razak signed for CapAsia while CAPEC
Chairman Alexander Klebanov signed on behalf of the company, witnessed by Prime
Minister Najib Tun Razak who is on a four-day official visit to Kazakhstan.
A private equity infrastructure unit of CIMB Group, CapAsia, via its Islamic
Infrastructure Fund, is investing the amount to also fund the private energy
company's extensive long-term investment programme to improve and upgrade
existing plant and distribution networks, to enhance energy efficiency and to
reduce harmful emissions.
CapAsia is a private equity infrastructure unit of CIMB Group which invests
in the infrastructure sector of emerging economies of Asia outside China and
India.
Chief Executive Officer of CapAsia Dr Johan Bastin said an important
objective of IIF was to demonstrate that private capital could be successfully
invested in the infrastructure of emerging economies.
"Therefore, the fund serves as a catalyst for attracting much needed private
investment in sectors crucial for the welfare of the population and the
sustainability of economic growth," he said.
Meanwhile, Klebanov said CAPEC, the largest private energy company in
Kazakhstan, undertook large scale investment programmes directed at increasing
capacities of generating assets in Pavlodar and Northern Kazakhstan region.
He said it enhanced the environmental parameters of production, waste
recycling, reconstruction and modernisation of grid assets.
"The signing with CIMB Group and the investments of IIF into the capital of
CAEPCO, planned in the frames of such cooperation have a great siginificance not
only for our company but also for the whole electricity and energy sector of the
country," he said.
Group Tuesday signed an agreement to acquire a 12.9 per cent equity in
Kazakhstan's Central Asian Electric Power Corporation (CAEPCO) for US$50
million.
The deal signed between CapAsia and Central Asian Electric Power and Energy
Company (CAPEX), is CapAsia's first investment in Central Asia and largest
single investment to date.
CIMB Group Chief Executive Nazir Tun Razak signed for CapAsia while CAPEC
Chairman Alexander Klebanov signed on behalf of the company, witnessed by Prime
Minister Najib Tun Razak who is on a four-day official visit to Kazakhstan.
A private equity infrastructure unit of CIMB Group, CapAsia, via its Islamic
Infrastructure Fund, is investing the amount to also fund the private energy
company's extensive long-term investment programme to improve and upgrade
existing plant and distribution networks, to enhance energy efficiency and to
reduce harmful emissions.
CapAsia is a private equity infrastructure unit of CIMB Group which invests
in the infrastructure sector of emerging economies of Asia outside China and
India.
Chief Executive Officer of CapAsia Dr Johan Bastin said an important
objective of IIF was to demonstrate that private capital could be successfully
invested in the infrastructure of emerging economies.
"Therefore, the fund serves as a catalyst for attracting much needed private
investment in sectors crucial for the welfare of the population and the
sustainability of economic growth," he said.
Meanwhile, Klebanov said CAPEC, the largest private energy company in
Kazakhstan, undertook large scale investment programmes directed at increasing
capacities of generating assets in Pavlodar and Northern Kazakhstan region.
He said it enhanced the environmental parameters of production, waste
recycling, reconstruction and modernisation of grid assets.
"The signing with CIMB Group and the investments of IIF into the capital of
CAEPCO, planned in the frames of such cooperation have a great siginificance not
only for our company but also for the whole electricity and energy sector of the
country," he said.
