Korean company wants to leave TPP project in Kazakhstan
Baku, Azerbaijan, Sep. 2
By Elena Kosolapova – Trend:
Korean Samsung C&T Corporation plans to leave Balkhash thermal power plant project in Kazakhstan, Samruk-Energy press-service reported on Sept. 2.
Korean Samsung planned to build Balkhash thermal power plant in partnership with Kazakhstan’s Samruk-Energy company. The design capacity of the plant was expected at 1,320 MW.
Korean company owns 50 percent plus one share in the project. It was planned to build thermal plant by the end of 2017.
The company said that Balkhash thermal power plant company received notification from Samsung C&T Corporation on the sale of the company’s shares in Balkhash project and notification from Samsung Engineering on canceling the contract on the construction of the power plant.
Under the terms of the contract, the Kazakh side may normalize relations on the project with the Korean investors within 60 days from the date of the notification receipt.
No decisions have been made yet to close the project.
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