Astana, Kazakhstan, Sept.25
By Daniyar Mukhtarov - Trend:
Chinese and Japanese banks can participate in the financing of the construction of the Balkhash thermal power plant in Kazakhstan, in addition to Korean financial institutions, Chairman of the Board of Samruk-Energo, Almasadam Satkaliyev told Trend Sept.24.
"At present, negotiations are underway with a number of banks that agreed to finance the project," Satkaliyev said.
He added that negotiations are underway with the Asian Development Bank, as well as some Japanese banks.
"In addition, the Chinese banks also showed interest for the project. We also expect Kazakh banks that made interesting offers to participate in the project," the head of Samruk-Energo said.
Satkaliyev mentioned that there is a whole syndicate of banks involved, however didn't reveal which banks exactly are included.
"We are moving according to the schedule," Satkaliyev said. "We should adopt the indicative parameters of the project and submit them for approval by our shareholders until the end of the year."
He added that preparatory work is now in its final stage.
"The construction of a water pipeline, expansion of the railway station, the point of loading and shipment, the point of water intake is coming to the end," he said. "We have already started drilling and blasting work."
The presidents of Kazakhstan and Korea started construction of the first module of the Balkhash thermal power plant in fall 2012. Kazakhstan and South Korea have signed a contract on the "turnkey" construction of the first module of the Balkhash thermal (coal) power station with capacity of 1320 MW.
It is planned that the Balkhash thermal power plant will cover the energy deficit in the south of Kazakhstan. Capacity of the thermal power plant will amount to 2640 MW.
An authorized capital was formed. Some 25 percent belongs to Samruk-Energo, 75 percent to the Korean consortium Samsung / KEPCO within the framework of the authorized capital. Funding will be divided as follows: 30 percent - share capital, 70 percent - the borrowed capital.
Preliminary project cost will amount to $4 billion.
The agreement between the governments of Kazakhstan and South Korea in the field of development, financing, design, construction, operation and maintenance of Balkhash thermal power plant was signed in 2011.
Construction of the Balkhash thermal power plant should be completed by 2018.