Page 9 - bne IntelliNews monthly magazine November 2024

bne November 2024 Companies & Markets I 9
thus seen as indispensable by Astana in greatly expanding the country’s power generation in the coming 10 years, while at the same time cutting emissions to meet climate commitments. Officials intend to rely on nuclear power for 5% of the national energy generation mix.
Not venturing into nuclear power given perennial safety concerns, while at the same time boasting the status of the world’s number one uranium producer, would be a great frustration to many working on Kazakhstan’s economic development.
"In order not to remain on the sidelines of global progress, we must use our competitive advantages," Tokayev said ahead of the vote.
World Nuclear News noted that although Kazakhstan does not currently use nuclear energy, it has three operating research
reactors, while a Russian-designed BN-350 sodium-cooled fast reactor was in operation near Aktau by the Caspian Sea for 26 years, until 1999.
Kazakhstan Nuclear Power Plant (KNPP), a subsidiary of Kazakhstan's Samruk-Kazyna National Welfare Fund, was set up in 2014. It is designated as the owner/operator of the future nuclear plant and was tasked with pre-project work including a feasibility study to outline the need for nuclear power.
The proposed NPP would be a large reactor. However, options for using small modular reactors (SMRs) have not been ruled out.
Central Asia’s first NPP, to be built in Uzbekistan by Rosatom, will operate with SMRs.
EBRD and IFC make biggest direct investment into Ukraine’s telecoms in wartime
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The European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) have made the single largest foreign direct investment (FDI) investment into Ukraine since the war started.
"The EBRD and IFC will each provide $217.5mn in long-term debt to support a landmark project involving two leading Ukrainian telecom groups, lifecell and Datagroup-Volia, which recently merged to form a new group, Datagroup- Volia-lifecell. The investment will support the merged
group in enhancing the resilience of the phone network and improving digital connectivity across Ukraine," the EBRD said in a press release emailed to bne IntelliNews.
To mitigate investment risks, a portion of the EBRD’s and IFC’s loans will be covered by guarantees provided by the government of France and the European Union under the Ukraine Investment Framework.
Antoine Armand French Minister of the Economy, Finance and Industry said: “France is committed to supporting the resilience and reconstruction of Ukraine’s economy, which will require attracting large private investments in key sectors. This is why we have launched guarantee facility programs with both the EBRD and IFC to de-risk new private investments in Ukraine. This landmark project is the first utilization of these facilities. It will ultimately help better connect businesses and people across Ukraine. And we look forward to supporting other projects."
The merger combines fixed-line provider Datagroup-Volia
with mobile operator lifecell to form DVL, now Ukraine’s second-largest telecoms firm.
Mykhaylo Shelemba, CEO of Datagroup-Volia-lifecell said: “I thank the IFC and the EBRD for their trust and support and look forward to this long-term partnership, which will enable a significant investment programme, including investments in the network, licenses, equipment and expansion of fixed and mobile communications infrastructure in Ukraine. Ukrainian businesses have huge potential for investment, which should continue, even in these difficult times.”
The majority of DVL will be owned by NJJ, part of French telecom tycoon Xavier Niel’s group, with Horizon Capital holding a minority stake. The French government and the European Commission are backing the project with guarantees.
The EBRD and IFC have made the single largest direct investment of €435mn during wartime into Ukraine mobile phone sector to create a new market leader. / bne IntelliNews
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