Korea's Kepco and Samsung bought 75% shares in Balkhash Thermal Power Plant
ASTANA. September 4. KAZINFORM /Serik Sabekov/ Samruk Energo JSC has entered into agreement with Korea's Kepco Consortium and Samsung on acquisition of 75% of shares in the Balkhash Thermal Power Station. Prime Minister of Kazakhstan Karim Massimov participated in the ceremony of signing held in the Ukimet Uyi. According to CEO of Samruk Energo Yerlan Upushev, Kepco and Samsung won in the tender for the construction of the Balkhash Thermal Power Plant in May 2009. "Today we have signed an agreement on acquisition of 75% shares-minus one stake in the Balkhash Thermal Power Plant by these companies. The project will be implemented in two stages. The cost of the first stage is USD 2.5 bln. The total cost of the project comprises USD 4.5 bln", he said. The plant will consist of two blocks with the capacity of 600 MWT each. It is expected to start the first stage of the project in December 2009 and complete in 2014. 25% shares-plus one stake belongs to Samruk Energo.