A CEFC (China Energy Company Limited) delegation along with executive
management members of Kazakhstan’s KMG International (KMGI) had a
series of meetings on March 21-22 with several banks operating on the
local market, recent years’ supporters of KMGI’s investment plans
through loans extended for the company, KMG International said in a
press release.
The purpose of the meetings held between CEFC representatives and BCR
(Romanian Commercial Bank), Unicredit, Raiffeisen, ING and Bancpost was
to acquaint KMGI’s banking industry partners with the development plans
envisioned by the future shareholder of the company.
The introduction of the new company shareholder is a common practice
for the client-banking institution relationship in regions where the
company operates.
KMG said that this week’s endeavors confirm, once again, the interest
and commitment of CEFC for strengthening KMGI investments and extending
its operations.
National Company KazMunayGas Kazakhstan (KMG NC) and CEFC signed in
December 2016, in Bucharest, an agreement stating the commitment to
pursue the transaction of buying 51% of KMGI shares by the Chinese
company.
By completing the process of acquiring 51% of KMGI’s shares this
year, after obtaining all necessary approvals for concluding the
transaction, CEFC will significantly contribute to accelerating the
company development, both at local and regional levels, KMG said.
The strategic partnership will bring benefits for KMG NC, CEFC and
KMGI, and will set the framework for future joint projects, contributing
to economic and social growth in areas where these projects are to be
implemented, most of them in Romania.
https://www.neweurope.eu/article/china-wants-develop-kazakhstans-energy-projects-romania/