KEGOC's CEO continues discussion of the address of the President of the Republic of Kazakhstan on the "Third Modernization of Kazakhstan: global competitiveness" with the company’s personnel

English

Bakytzhan Kazhiyev, the CEO of KEGOC, met with the personnel of Yuzhnye MES branch in the city of Shymkent as part of his annual reporting tour.

At the meeting Mr Kazhiyev said that the company was committed to effective development of the National Power Grid and to maintenance of the reliable operation of Unified Power System of Kazakhstan. KEGOC has been successfully implementing the major investment projects, considerably improving the efficiency of operations, paying a lot of attention to the development of personnel and addressing their social issues.

In particular, in 2016, the company managed to complete, one year ahead of schedule, the first stage of a large-scale project for construction of 500 kV North-East-South electricity transmission: 500 kV high voltage line Ekibastuz - Shulbinsk HPP (Semey) - Ust-Kamenogorsk.

The financial results of the last year lived up to the expectations of the shareholders of KEGOC, and the shares of the company were highly liquid and appealing. To date, KEGOC's shares on KASE are traded higher than 1,300 tenge per share, which is 150% higher than the initial offering price.

As a part of development of the social and labour relations, the company creates comfortable and safe working environment and implements social programmes governed by the Collective Agreement. In September last year, the trade union conference approved a new Collective Agreement for 2016-2020 between KEGOC and the personnel of the company to reflect the changes in labour law and the personnel' interests.

The success of the company's social policy is evident in its consistently high social stability rating of 82%; the engagement of the management and administrative personnel also increased by 5% to 73%.

The company's team continued successful implementation of multidimensional and large-scale business transformation programme.

Mr Kazhiyev said that the company's development is inextricably linked to the development of Kazakhstan and the priorities announced by the President of Kazakhstan in his address to the people of the country: "Third modernization of Kazakhstan: global competitiveness"

The CEO said that Kazakhstan launched the programme of the Third modernization of Kazakhstan, which has five priorities: accelerate technological modernization of the economy,  radically improve and expand the business environment and macroeconomic stability, improve the quality of human capital, and institutional reforms, the issues of security and corruption.

These priorities shall facilitate the achievement of the primary strategic goal to become one of the top 30 developed countries.

- We need to find our niche in a country's strategy to create the new technological order, - said the CEO of KEGOC. - The Company has everything to achieve this goal: an experienced top management, highly qualified staff, extensive experience in implementing the large-scale investment projects, cutting-edge developments and the latest technology.

Bakytzhan Kazhiyev also stressed that the Law On amendments to the Constitution of the Republic of Kazakhstan, passed in March this year, shall facilitate a clearer separation of powers between the main political institutions of the country: the President, the Government and the Parliament.

In general, the higher level of responsibility for the economic development will have a qualitative impact on the work of the Government, and the stronger Parliament will enhance the democratization of the political system.

The CEO of KEGOC noted that the cumulative result of the constitutional reform and implementation of the address of the President of Kazakhstan, will significantly strengthen the position of Kazakhstan's economy in the new global reality.

  

 

Contacts

59, Tauyelzisdik Ave, Almaty District, Astana,
Republic of Kazakhstan, 010010
Tel.: +7 (7172) 690-468, +7 (7172) 690-203
Fax: +7 (7172) 690-455

e-mail: kegoc@kegoc.kz

 

About Company

KEGOC is the System Operator of Unified Power System of Kazakhstan, and it owns and manages the assets of the National Power Grid (NPG). The company is the natural monopoly. It owns about 25,000 km of 0.4-1150 kV electricity transmission lines and 78 electrical substations with 36.7 GVA of installed transformer capacity. These lines and substations form the NPG. The company employs more than 4.8 thousand people. More information about the Company is available at its corporate website: www.kegoc.kz