Azerbaijan, Baku, Oct. 11 / Trend E. Kosolapova/
Kazakh President Nursultan Nazarbayev has issued an order to speed up the construction of the Balkhash thermal power plant, Kazinform reported.
"We have been talking about Balkhash TPP construction for several years, but still do not know how to provide the TPP with 300 freight wagons of coal per day, if only one railroad runs there. How will the thousands of employees work there and where will they live? The budget for three years envisages no funds for this issue," Nursultan Nazarbayev said speaking at a government meeting on Friday.
The president ordered the government to control the project.
Shareholders of Balkhash TPP are the Kazakh Samruk-Energy Company, South Korean Korea Electric Power Corporation and Samsung C&T Corporation.
The financing structure of the project involves borrowings of 70 per cent and the shareholders' contributions of 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).