OREANDA-NEWS. On June 19, 2007 the Chairman of The Board of Directors in JSC "Bank TuranAlem" (Kazakhstan) Muhtar Ablyazov has arrived in Omsk with working trip under the invitation of the general director of JSC "Group of companies "Titan" M. Sutyaginsky, reported the press-centre of  "Titan".

The visitor has visited a number of objects where investment projects of JSC "Group of companies "Titan" are realized, and also those objects which will be financed by the JSC "Bank TuranAlem".

The delegation including the Chairman of The Board of Directors in JSC "Bank TuranAlem" Muhtar Ablyazov, the President of Open Company "Basco" Alexander Sutyaginsky, the general director of JSC "Group of companies "Titan" Michael Sutyaginsky, heads and experts of the enterprises of "Group of companies "Titan" and of JSC "Bank TuranAlem" has visited industry sites of Open Company "Omsk - polymer" and Open Society "Omsky Kautchuk".

M.A.Sutyaginsky has led the excursion through the energy power station (EPS) located on the industrial site of Open Society "Omsky Kautchuk" and where the turbines prestarting tests are coming now to end. The bankers were especially interested in energy power station, because the second turn of it has been constructed at the financial support of JSC "Bank TuranAlem" and of the international investment bank "Credit Suisse". Investments into this project have made $75 million. Michael Sutyaginsky has noted, "the energy power station won't satisfy all our needs on electric power at the moment, but we have plans to construct electrocapacities with parameters three times higher, than we have entered. Under forecasts, it should completely satisfy the current and future requirements, including the investment program for development of production realized now".

Information:
On June 16, 2004 the base of the first boiler in the future energy power station has been incorporated in solemn conditions at the presence of the Governor of Omsk region L.K.Polezhaev, Chairman of Legislative Assembly of Omsk region V.A.Varnavsky, the general director "Group of companies "Titan" M.A.Sutyaginsky, representatives of administration of the city and the region, heads of the plant "Omsky Kautchuk".

The construction of own power station on the industrial site of Open Society "Omsky Kautchuk " was conducted in prompt rates. Experts needed less than one year to erect industrial and administrative buildings, to install the unique equipment, and to line the modern communications. Total capacity of both turns of the EPS makes 2,5 million. Gkal/year on the steam, and 230,4 million kWh/year on the electric power. These volumes allow the enterprises of group of companies "Titan" to satisfy requirements completely for steam and on 2/3 for electric power and to optimize expenses for steam and for the electric power during the manufacture of the commodity output. At the present time the second turn of the power station is on the stage of registration of documentation for full commissioning.

In the afternoon the Governor of Omsk region Leonid Polezhaev received Muhtar Ablyazov and Michael Sutyaginsky. During the meeting the tripartite agreement was signed about cooperation in realization of the investment projects in sphere of development of a petrochemical complex at the territory of Omsk region. According to the Agreement, the parties have agreed to unit efforts with a view of realization of the investment projects stipulated by "The Investment memorandum " concluded between the JSC "Bank TuranAlem" and the JSC "Group of companies "Titan" on February 22, 2007, signed within the framework of realization of the "Program for development of petrochemical manufactures of Group of companies "Titan" during the period till 2012".

Conditions of the agreement provide, that the Government of Omsk region, according to the legislation, will render the state support to holders of the investment projects directed on development of a petrochemical complex of the region. Assistance of the Government is supposed within the framework of joint participation of the parties of the Agreement in the federal and regional programs directed on stimulation of investment activity.

JSC "Bank TuranAlem" carries out financing projects on conditions and in the terms stipulated in "The Investment memorandum".

During the realization of investment projects within the framework of the Agreement the group of companies "Titan" should be guided by interests of social and economic development of Omsk region, operate according to conditions and the terms stipulated by documents, and also to be guided by use of high technologies, both in the field of construction, and in the field of petrochemical manufacture.