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Bank TuranAlem finances underground coal gasification within "30 corporate leaders" programme

15.11.2007 / Press-service

Bank TuranAlem (BTA) JSC intends to finance a breakthrough project of underground coal gasification (UCG) within "30 Corporate Leaders" programme. The breakthrough project pursues implementation of an advanced environmentally friendly technology.

Kazakhstan has no UCG experience so far. The first step Kazakhstan takes in this direction is BTA assistance to the project of "Underground gasification of Nizhne-Ili deposit"

Kazakhstan also has other coal deposits potentially suitable for underground gasification. BTA is ready to consider viability of underground gasification of those deposits, especially in the regions of Kazakhstan suffering from power shortage.

Underground coal gasification is an environmentally friendly technology of coal consumption without its mining yielding product gas for its further consumption for electricity generation and for other valuable products. This technology has been gaining more and more attention over the recent years due to a significant impact of conventional coal consumption on the environment and climate change.

The forecasted surge of prices for such prime movers as oil and natural gas make the industry look for alternative environmentally friendly technologies of coal consumption that remains a major source of crude energy in the near future. Moreover, Kazakhstan enjoys vast coal reserves.

In the run-up to this project, on November 12 and 13 Almaty hosts a workshop covering world experience in underground coal gasification. Bank TuranAlem JSC has sponsored the event arranged in tandem with the UN Department of Economic and Social Affairs.

The seminar takes place within UN technical assistance to governments and private sectors in sustainable development of the energy sector and represents BTA strive for a vigorous involvement in the program of economic modernization of Kazakhstan announced by President of Kazakhstan Nursultan Nazarbayev. BTA would like to make adequate contribution to the further economic development of the country owing to efficient high technologies.

The seminar aims to acquaint representatives of concerned government agencies and experts with opportunities and perspectives of underground coal gasification and world experience in the introduction of this promising technology.

Seminar participants are key world experts from the U.S., Canada, Republic of South Africa, Russia, Australia, China, India and Uzbekistan. They will share their experience in the underground coal gasification and its technical, economic and environmental aspects.

Bank TuranAlem JSC (BTA) is among largest banks and leader in creation of banking network within the CIS. According to tentative data, as of October 1, 2007 BTA consolidated assets totaled USD24,084 million, a swell of 47.4% from early 2007, capital rose by 2.3 times to make USD3,577 million. Its consolidated net income reached USD492 million, a two-fold year-on-year increase.

BTA operating in the CIS and far-abroad countries is expanding into the CIS. Activities of its strategic bank partners cover Ukraine, 4 regions in Russia, Belarus, Georgia, Armenia, Kyrgyzstan and Turkey. BTA also runs its representative offices in Russia, Ukraine, China and the United Arab Emirates.

In Kazakhstan, BTA’s network consists of 22 branches and 260 cash settlement units.

Respectable Itogi magazine named Bank TuranAlem "Bank of the Year 2006." Meanwhile, Euromoney declared BTA A Leading Bank in Corporate Governance in Emerging Europe 2006 and 2007. BTA also appears in the Banker’s TOP 300 and ranks the third in its Highest Movers rating. The Europe Business Assembly (EBA, Oxford, UK) has named BTA ‘the Best Enterprise of Europe’ in the Eurasian banking sector.