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Financials

REFILE-Kazakh gas pipeline operator gets $2.5 billion loan from Chinese banks

(Adds dropped word in headline)

ALMATY, Aug 19 (Reuters) - Kazakhstan’s gas pipeline monopoly KazTransGas has signed an agreement with a group of Chinese banks for a syndicated loan worth a total of $2.5 billion to help fund a natural gas project, the company said on Wednesday.

The loan, to be repaid in 2028, was arranged by China Development Bank Corp and Bank of China, KazTransGas said in a statement. It said the credit resources “had been attracted at the most advantageous terms”, but gave no further detail.

The funds will be used to complete construction of the Beineu-Bozoi-Shymkent pipeline in southern Kazakhstan, the first stretch of which was built in September 2013.

This pipeline is part of a network carrying gas from post-Soviet central Asia, mainly from Turkmenistan, to China. (Reporting by Dmitry Solovyov; Editing by David Holmes)

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