OREANDA-NEWS. On April 20, 2009 Kazakhtelecom (Astana), a company listed on Kazakhstan Stock Exchange (KASE), provided KASE with a press release, reported the press-centre of KASE:

Kazakhtelecom, Bank of China and Huawei Technologies signed a three-side Memorandum of understanding for financing of prospect Kazakhstan telecommunications development projects.

On April 15, 2009 in Beijing (CPR) Kazakhtelecom, Bank of China and Huawei Technologies signed a three-side Memorandum of understanding. A corresponding document was signed by Chairman of Kazakhtelecom Askar Zhumagaliev, deputy General Manager for corporate banking of Bank of China Tang Maoheng and Huawei Technologies Vice-president Vu Zhuo.

The Memorandum aims to create preliminary conditions for implementation of large scale financing by Chinese financial institution for prospect telecommunications projects in Kazakhstan, with Kazakhtelecom and Huawei Technologies participating.

According to Chairman of Kazakhtelecom Askar Zhumagaliev, the main projects where Kazakhtelecom may use Huawei Technologies equipment are concerned with further development of WLL CDMA based fixed radio access networks, and ADSL2+ based Internet broadband access networks.

Deputy General Manager for corporate banking of Bank of China Tang Maoheng, said "the bank is pleased to welcome a reliable client Kazakhtelecom". He said signing of this agreement and close cooperation with Kazakhtelecom - a leading Kazakhstan telecommunications operator, will enlarge export crediting work areas of Bank of China, and create new impulse for fast developing Kazakhstan telecommunications sector.

Huawei Technologies Vice-president Vu Zhuo remarked "by signing the memorandum the company shows it is ready to discuss prospect projects on development of Kazakhtelecom's digital networks and desire to actively participate therein, providing cutting edge decisions, technologies and professional business consulting".