BAKU, Azerbaijan, April 7. Implementation of the project on construction of a 1000 MW gas power plant in the Turkestan region of Kazakhstan will make a significant contribution to the energy security of the southern regions of the country, a source at the national welfare fund Samruk Kazyna told Trend.
The main goal of the project is to ensure stable supplies during peak hours, as well as to strengthen energy independence in the Southern region.
The source added that successful implementation of the project will also enable Kazakhstan's local energy companies to establish a foothold in the neighboring markets, in addition to providing additional employment opportunities and improving the living standard of the local population.
The project will be implemented by securing private investments and attracting Kazakh second-tier banks, financial institutions, and the funds provided by Samruk Kazyna.
The source concluded by saying that currently, work is underway to complete the pre-project stage.
Earlier, it was reported that the implementation of the project is one of the priorities of the national welfare fund Samruk-Kazyna. The overall cost of the project was estimated to be 700 billion Kazakh tenge ($1.56 billion).