Baku, Azerbaijan, Dec.10
By Elena Kosolapova- Trend: Kazakhstan will determine the cost of the Balkhash thermal power plant construction project by the spring of 2014, Novosti-Kazakhstan reported on Dec. 10.
"We believe that the state examination of the project documentation will be completed in the spring of 2014...Today, the ministry is working to determine the electricity pricing formula. The TPP construction will be completed within the specified term," Kazakh Vice Minister of Industry and New Technologies Bahytzhan Dzhaksaliyev told reporters in Seoul.
According to the preliminary data, the project will be worth 600 billion tenge (154.12 tenge = $1).
Shareholders of Balkhash TPP are the Kazakh Samruk-Energo Company, South Korean Korea Electric Power Corporation and Samsung C&T Corporation.
The financing structure of the project involves borrowing 70 per cent and the shareholders' contributing 30 per cent in an amount equal to their shares in the Balkhash TPP project of Samruk-Energy (25 per cent plus one share) and Samsung C&T Corporation (75 per cent minus one share).
The construction project is scheduled to be completed by 2018.