Project Parameters Planned capacity – 2 640 МW Construction period: – 1 st module 2 х 660 МW (1 320 МW): 2008-2013 – 2 nd module 2 х 660 МW (1 320 МW):

Project Parameters

Planned capacity – 2 640 МW

Construction period: – 1st module 2 х 660 МW (1 320 МW): 2008-2013 – 2nd module 2 х 660 МW (1 320 МW): 2011-2016 construction cost – 564 billion KZT ($ 4 700 mln)

Financing:The project will be implemented on the principles of public-private partnership

The following financial structure of the project was approved by the Government:   share capital - 30%   loan capital - 70% Therefore, the structure of the share capital of Balhashskaya TPS JSC includes:   Government share - 25% +1 share   Private investors - 75% - 1 share Project current status •An international tender for selection of a strategic investment partner has been announced on October 11, 2008.• the Strategic Investment Partner will be determined after completion of the pre-qualification selection in December, 2008.• Tender procedures for selection of ancillary facilities design contractor have been held.

Project Coordinator: Samruk-Energo JSC

Construction of Balkhashskaya TPSSlide № 1

Construction of the Third Power-generating Unit of Ekibastuz GRES -2

Слайд № 2

Capacity of operating power-generating units: 1000 МW, Project Capacity of power-generating unit № 3: 500 МWLocation: Pavlodar regionOwners of Ekibastuz GRES -2: 50% – SWF Samruk-Kazyna JSC (Republic of Kazakhstan)50% – OJSC Inter RAO UES (Russian Federation)Project implementation period: 2008-2012 Project cost: $ 651,8 million

Financing:– Borrowed funds Co-financing of shareholders (30% of the project cost)Equity funds of JSC Stantsiya Ekibastuzskaya GRES-2

Project current status:Mandated letters for organization of long-term loans have been signed by JSC «SEGRES-2» with European Bank for Reconstruction and Development and Eurasian Development Bank At the present time mentioned above banks are holding technical, economic and ecology audit of the project. Banks’ decision on their participation in the project is planned to be received in current year. Herewith according to the audit results the cost of the project defined in the feasibility study can significantly increase (up to $650 mlln.)An open tender has been announced for acquisition of consulting services for documents on choosing EPC-contractor elaboration.

Project Coordinator: Samruk-Energo JSC

Kazakhstan Electricity Transmission Rehabilitation Project, II stage

Mission: to ensure reliable functioning of the national grid of Kazakhstan

Main components of the Project:

• Replacement of high-voltage switching and measuring equipment

•Installation of 220 kV shunt reactors

• Replacement of autotransformers of 500, 220 kV

• Upgrading telecommunications and relay protection

• Replacement of arresters for excess-voltage suppressors

• Replacement of the service transformers

• • Reconstruction of substations made by the schemes: with isolating, concurrent sectionalized and bypass switches

Project cost: 52 billion KZT ($ 433 mln)

Source of financing:Substation part of the project – 100% of borrowed funds of EBRD (Loan agreement of 05.06.2008 in the amount of € 255 mln)Lineal part of the project – Sources of financing are not determined

Project implementation period: 2008-2012 (taking into account HV-line up to 2016)

Current status: •The winner of the tender for selecting a consultant was defined (preparation of technical specification, tender documents for contractors, etc.) - «MVV Consulting». The signing of the contract - in mid-November, 2008. • Necessary work for launching of the project is maintained in accordance with the previously approved schedule.

Project Coordinator: KEGOC JSC

Слайд № 3

Construction of 500 kV Alma SS connected to Kazakhstan National Electricity Network via 500-220 kV lines

Mission: - Reliable electricity supply of almaty region; - Power output of Balkhashskaya TPS

Location: Almaty region

Coordinator: KEGOC JSC

Project implementation period: 2009-2012

Project Cost: 29,97 billion KZT ($ 250 mln.)

Слайд № 4

Components of the project:

First Stage (completion in 2011):- Construction of 500 kV Alma SS, - construction of 500 kV Almaty – Alma transmission line with reconstruction of 500 kV outdoor switchgear on Almaty SS- Construction of 220 kV transmission line to be connected with existing network.

Second Stage (completion in 2012) - Construction of HV-line-500 kV «YuKGRES-ALMA» with the reconstruction of OSG – 500 kV at SS «YuKGRES».

Financing:• The agreement with the International Bank for Reconstruction and Development was reached on receiving a loan (about $ 240 million) secured by the sovereign guarantee (the national budget for 2008 provides for this guarantee)• Own funds of KEGOC JSC

Project Coordinator: KEGOC JSC

Power Output of Balkhashskaya TPS

Location: Almaty and Zhambyl regions

Project cost:

31 billion KZT ($ 260 mln)

Components of the project:

- Construction of 4 Transmission lines of 500 kV from Balkhashskaya TPS to YuKGRES SS with the length of 3 km each

- Extension of YuKGRES SS

- Construction of 500 kV YuKGRES - Shu transmission line

- Construction of 500 kV Shu – Zhambyl transmission line

Слайд № 5

Project implementation period:

I stage (ensuring of power operation of the 1st module of BTPS) - 2009-2011

II stage (ensuring of power operation of the 2nd module of BTPS) –up to 2015

Financing:

Sources of financing are not determined

Project Coordinator: KEGOC JSC

Power Output of Moynak HPP

The main components of the project:

Construction of High voltage 220/110 kV «Moynak HPP»Construction of 220 kV high voltage «Moynak HPP – SHELEK» substation (119 km)Construction of 220 kV High voltage substation «Moynak HPP – substation of SARIOZEK» (215 km)Construction of 220 kV OHTL enterings at Saryozek substation (4 km)Reconstruction and expansion of 220/110/35/10 kV outdoor switchgear at Saryozek SSReconstruction and expansion of 220/110/35/10 kV outdoor switchgear at SHELEK SS

Project cost: 7,5 billion KZT (US$62,5mln) Project implementation period: 2009-2011

Slide № 6

Financing:

• The agreement with the International Bank for Reconstruction and Development was reached on receiving a loan (about $ 60 million) secured by the sovereign guarantee (the national budget for 2008 provides for this guarantee)•Own funds of JSC «KEGOC»

Current status:JSC “KazNIPIITES Energiya” developed feasibility study of the project and state expertise revew was given by RGP «Gosexpertiza»

Project coordinator: JSC «KEGOC»

Reconstruction and expansion of Almaty CHP-1,2Reconstruction and expansion of Almaty CHP-1,2 slide 7

Name of the project

Description of the project

Reasoning Aim Expected effect

Cost of the project

(bln.KZT)

Construction period

Reconstruction of CHP-1 for heat consumption from CHP2

Transfer of CHP-1 to joint operation with CHP 2

Construction of heating main between CHP2 and CHP1 by local authorities of Almaty

Coverage of thermal power deficit at CHP1 zone

Increase in transmitted capacity by 450 Gcal/h in 2010 and by 575 Gcal/h in 2020

7,134 2009-2011

Expansion CHP-2

Instalation of boiler №8 with boiler heating aggregate

Capacity of CHP-2 can not cover the increasing thermal loads of the city

Coverage of thermal and electric power deficit in Almaty city

Increase of the yearly production of thermal power by 1 mln. Gcal and of electricity by 70 MW

19,748 2009-2011

ALMATY CHP-1: Electric power , installed – 145 МW

available capacity in winter – 115 МW available capacity in summer – 35 МW

Thermal Power ,available – 985 Gcal/hour

ALMATY CHP -2: Electric power , installed – 510 МW

available – 380 MWThermal Power , installed – 1 176 Gcal/hour

available – 750 Gcal/hour

Project coordinator: JSC «SAMRUK-ENERGY»

Construction of 500 kV Second Transmission Line of Kazakhstan North South TransitConstruction of 500 kV Second Transmission Line of Kazakhstan North South Transit

Implementation period: 2004-2009

Project cost: 43,7 billion KZT

Source of financing:

Loan funds – International Bank of Reconstruction and Development (US$100 mln.), European Bank of Reconstruction (US$147,8 mln.), Development Bank of Kazakhstan US$21 mln and 6,97 billion KZT) and own funds of JSC “KEGOC”

Length of the OHTL: 1115 km

I phase «YuKGRES – SHU» (250 km)

Construction of SHU SS, extension of YuKGRES SS ,reconstruction of ALmaty SS.

Location – Almaty and Zhambyl region

II phase «Ekibastuz –Agadyr» (475 km)

III phase «Agadyr – YuKGRES» (390 km)

Location - Karaganda and Almaty region

The main components of the project:-Construction of three sections of 500 kV OHTL including fiber optic communication line-Extension and reconstruction of existing 500 kV substation and construction of new 500 kV substation “SHU”-Provision of the required relay protection and automation, telecommunication facilities and dispatching

and technological control facilities Current status:Commissioning of the firat phase “YuKGRES-Shu” was in 22 October of 2008 which increases the transmitting capacity of the existing transit “North-South “ to 100 MW.Construction of the second and third phases are maintained in accordance with the approved schedule ,which is planned to finish in 2009Project Coordinator: JSC«KEGOC»

Slide № 8

Construction of interregional power line of North Kazakstan –Aktobe region»

Extension of line: 500 km

Project cost: 19,9 billion KZT

Project implementation period: 2006 - 2008 .

Main components of the project:

-construction of 500 kV high Voltage substation including fiber optic communication line ;-expansion and reconstruction of substation “Ulke “and “Zhetykara”-providing of necessary capacity of relay protection and current electricity .-providing means of control and technology management ;

The project is based on PPP principles:

Establishment of concessionaire company –“Batys Tranzit” JSC (” Mehenergostroy LLP” - 80% of equity fund, “KEGOC” JSC - 20% of equity fund). Concession Agreement between Ministry of Energy and Mineral resources and “Batys Tranzit” JSC for construction and operation of the transmission line has been signed. Financing: At the expenses of issue and placement the infrastructural bonds of “Batys Tranzit “JSC secured by the Government guarantee of the Republic of Kazakhstan Current status:Construction and installation works on “Zhetykara” SS and ‘Ulke “SS and on linear part of power transmission line have been carrying out. At present time, the project is completed for about 70% of the whole required work. The Completion of the construction is planned to be done by the end of this year (2008).

Slide № 9

Kazakhstan Electricity Transmission Rehabilitation Project, I stageProject cost: 43,8 billion KZT

Project implementation period: 2000-2009

Source of financing:

- credit of International bank of Reconstruction and Development ($140 mln),

- credit loan from European bank of Reconstruction and Development secured by the sovereign guarantee ($45 mln),

-Own funds of “KEGOC” JSC

Main components of the project:

- Replacement of outdated equipment on 46 High Voltage substations ( 74 are available on the balance of «KEGOC» JSC);

-Modernization of relay protection and automatics on substations;

-Modernization of telecommunications ;-Modernization of the National Electrical Network (installation of monitoring and data

processing (SCADA) and energy management systems (EMS).-Creation of an automated system for commercial accounting of electricity (APSMACS) and

integrated system of government ;trade system

Current status:

At the present time all components of the project besides the modernization of relay protection and automation of high voltage substation had been completed

Project Coordinator: «KEGOC» JSC

Slide № 10

SLIDE № 11 Construction of Moynak HPP

Location: river Charyn in Almaty region Owners:51% –“Samruk-Kazyna” Sovereign Wealth Fund” JSC (through «KazKuat» LLP) 49% –«АК «Birlik» JSCProject cost: $ 340 mln.Capacity: 300 МW.Project implementation period: 2006-2011

Components of the project:Head end – Bestyube reservoir composed of : masonry –cum-earth dam and engineering and maintenance discharge.Station branch composed of : water receiving chamber, diversion tunnel, compensation basin, power conduit ,building of HPP. Regulator with water reservoir Auxiliary facilities buildings composed of : maintenance service personnel, highways, external electric supply,water supply and sewerage.

Financing of the project:Loan from Development Bank of Kazakhstan – $50,8 mln, Loan from State Development Bank of China – $200 mln, Own loan funds of the shareholders of «Moynak HPP» JSC

Current construction status:construction –assembly work is carrying out .

Project coordinator: «SAMRUK-ENERGY» JSC

Contact information

«Samruk-Energy» JSC Republic of Kazakhstan, 050002, Almaty city,

Dostyk avenue, 7, tel. +7 (7172) 54-04-17fax +7 (7172) 27-70-49

E-mail: [email protected], Chairman of the Management board – Upushev Yerlan Yelemesovich

«KEGOC» JSCRepublic of Kazakhstan, 010000, Astana city,

Beybitshilik avenue, 37, tel. +7 (7172) 97-02-03 fax +7 (7172) 97-04-55

E-mail: [email protected] – Bozumbayev Kanat Aldabergenovich