KEGOC (Kazakhstan) announces Y2012 operating results

February 22. KASE

KEGOC (Kazakhstan) announces Y2012 operating resultsJSC “KEGOC” (Astana) has provided Kazakhstan Stock Exchange (KASE) with the following press-release of February 20, 2013:

KEGOC CEO Bakhytzhan Kazhiev at an HQ executive meeting presented a report on Y2012. Main operating figures (compared to 2011) are as follows:

– the volume of electricity transmission services rose by 6.0% reaching 43.5 bn kWh;

– the volume of technical dispatching services rose by 3.3% to 83.5 bn kWh;

– balancing of electricity production-consumption made up 153 bn kWh with an increase of 4.8%.

Based on Y2012 results the company’s net profit made up KZT7.2 bn.

With regard to investment projects included in the government Program for Accelerated Industrial-Innovative Development (AIID) capital expenditures in 2012 reached KZT24.5 bn. In November 2012 the company ahead of schedule finished and successfully commissioned the 500 kV-switching hub Alma, as part of the project “Construction of SH 500/220 kV “Almaty”. “Power output of Moinak hydro-power station” was completed along with the launch of PL 220 kV “ORU 220kV of Moinak HPS – SH 220kV Robot” stretching as far as 228 km and an extension – SW 220kV Robot. The planned volume of jobs on “NES Modernization, II stage”, reconstruction PL 220 kV “CGGP-Osakarovka” was done in full.

Under the program the current project will be continued; jobs on the first stage of “Construction of North-East-South 500 kV tranzit” under construction of 500 kV PL “Ekibastuz – SGES (Semei) – Ust-Kamenogorsk” will be started.

Special attention is paid to increasing the local content which exceeded 61% in the company’s JZT55 bn procurement. For purposes of increasing this ratio the subsidiary Energoinform is to launch unisolated cord and glass isolator production in 2013 with outlooks of advancing to CIS markets.

KEGOC CEO also pointed out achievements in corporate governance and HR stressing that the company in full fulfills its mission to ensure secure functioning of Kazakhstan’s power grid in accordance with modern technical, economic and ecologic requirements, HSE standards.

JSC “KEGOC” is a system operator of the Single Electric System (SES) of Kazakhstan. The company’s assets include 35-1150 kV power lines  stretching as far as 24.5 thousand km and 76 electric hubs with nominal capacity of 34 GWA, composing the national electric network.