China Extends $700 Mn Loan to Kazakh Gas Pipeline Company

China has extended a $700 million to Kazakhstan's gas pipeline company KazTransGas to expand a pipeline to boost gas exports, reports news agency Reuters.

The 15-year loan was arranged by China Development Bank, Reuters quoted the company as saying.

KazTransGas gave no financial details of the loan, adds the news agency.

According to Reuters, the loan would be used to complete a second, 311-km (194 mile) stretch of a gas pipeline from southern Kazakhstan and would transport extra volumes of natural gas to China via the already existing Kazakhstan-China pipeline.

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