EDB board approved project in Kazakhstan worth 31 billion tenge

The council of the Eurasian Development Bank (EDB) approved a Kazakhstan investment project called Creation of common automated system of management of transportation process in Kazakhstan’s railroad sector (TransTeleCom) worth 31,032 billion tenge (around $207 million), Interfax-Kazakhstan reports citing EDB press-release. The Kazakhstan project provides for laying fiber optic communication cables in Kazakhstan’s regions for development of the main communications network of TransTeleCom and expansion of the international traffic capacity with Russia, Kyrgyzstan and Uzbekistan. The project is called to introduce an automatic system of consumption and traffic control of rolling stock. Diesel and electric locomotives of Kazakhstan Temir Zholy - Kazakhstan's national railroad operator -- will get high-precision equipment monitoring diesel fuel and power consumption. The EDB is the international financial organization established by Russia and Kazakhstan in January 2005 to assist development of the member-countries’ market economy, expansion of their mutual trade and economic relations. The Bank’s foundation capital is over $1.5 billion. The Bank’s member-countries include Russia, Kazakhstan, Armenia, Tajikistan and Belarus.