Kazakh-Chinese Mangistau Investments pays off China Exim Bank’s loan ahead of time

Kazakhstan, Astana, July 4 / Trend D. Mukhtarov / "Mangistau Investments B.V." (MI BV) company, which is a joint venture of "KazMunaiGas" (KMG) national company and the Chinese national oil company CNPC, paid off a loan of the Export-Import Bank of China (China Exim Bank) ahead of time, KMG said on Wednesday. "A loan worth $ 2.8 billion, maturing in November 2019, was drawn in November 2009," a statement said. "The borrowed funds were used to acquire 100 percent of the ordinary shares of "Mangistaumunaigas" company." Mangistau Investments B.V. controls 99 percent of Mangistaumunaigas's shares - one of the Kazakh largest oil producing enterprises. KMG and CNPC own Mangistau Investments BV on a parity basis. Do you have any feedback? Contact our journalist at agency@trend.az