Kazakhstan approves agreement with S. Korea on thermal power plant
Kazakhstan's President Nursultan Nazarbayev has signed the law
'On ratification of the Agreement between the Government of the
Republic of Kazakhstan and the Government of the Republic of Korea
in the field of development, financing, design, construction,
operation and maintenance of Balkhash Thermal Power Plant',
Presidential Press Service reported on Tuesday.
According to the agreement, the shareholders of Balkhash TPP are
Samruk-Energy company of Kazakhstan, and Korea Electric Power
Corporation and Samsung C&T Corporation of South Korea. The
agreement is aimed at the development of the inter-governmental
cooperation between Kazakhstan and Korea, and the successful
implementation of the construction of the Balkhash Thermal Power
Plant project.
The Government is going to complete the project examination in
August.
As reported earlier, the financing structure of the project involves borrowings (70 percent) and the shareholders' contributions (30 percent) in the amount equal to their shares in Balkhash TPP project: Samruk-Energy (25 percent plus one share) and Samsung C&T Corporation (75 percent minus one share).
Kazakhstan's share in the capital of Balkhash TPP is 45.335 billion tenge ($ 1 - 151.24 tenge).
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