20 Feb 2013 16:27

KEGOC net profits down 8% in 2012

ASTANA. Feb 20 (Interfax) - Kazakhstan's national power grid managing company KEGOC made KZT 7.2 billion ($47.8 million) in net profits last year, an 8% drop on the KZT 7.822 billion it made the year before, the company press service said.

Power-transmission service volume in 2012 was up 6% from the year before at 43.5 billion kW/hours.

The company said that capital investments in projects included in a state program for forcing industrial-innovative development reached KZT 24.5 billion.

KEGOC operates Kazakhstan's unified electricity grid. It is wholly owned by the Samruk-Kazyna state fund.

The company plans to enter the stock market under the state program 'people's IPO' this year.

The official exchange rate for February 20: KZT 150.5/$1.