OREANDA-NEWS. March 02, 2011. During the state visit of the President of the Republic of Kazakhstan Nursultan Nazarbaev to Beijing, China, Development Bank of Kazakhstan Joint Stock Company in the presence of Presidents of two countries have signed an individual credit agreement with Export-Import Bank of China, reported the press-centre of KASE.

According to the mentioned agreement Export-Import Bank of China intends to issue to Development Bank of Kazakhstan a loan in the amount of USD1,380,400,000 to fund the Kazakhstan Petrochemical Inc. investment project "Construction of First Integrated Gas and Chemical Complex and Infrastructural Provision - First Phase".

This document is a result of signed in August 1, 2009 General Contract to the amount of five billion US dollars for cooperation in fuel and energy sector and has been signed by the First Deputy Chairman of Management Board - the member of Development Bank of Kazakhstan Management Board Bank Nurlan Kussainov and Vice-President of Export-Import Bank of China Su Jong.