Lenders reported a rise in total net profit of 19.3 percent year-on-year of 570.1 million manats ($335.4 million) in the period from January to October 2021.

The decision to award the consortium the project was based on its offer of $33.67564 per megawatt-hour (MWh), the lowest electricity cost compared with other competing bids.

The government also plans to reduce the use of the National Fund's transfers to 2.4 trillion tenge from 4.5 trillion tenge in the next three years.

The move will significantly increase output of a project conceived to reduce Europe's dependence on Russian gas.

The three-year bonds worth 12.5 billion tenge ($28.8 million) were auctioned at full issue price on the Kazakhstan Stock Exchange (KASE).