Tuesday, June 26, 2012 -
The Kazakh government has awarded a $2.1 billion contract to Samsung Engineering to construct a thermal power plant in southern Kazakhstan, the South Korean company said on Tuesday.
According to the terms of the engineering, procurement, construction (EPC) contract, Samsung Engineering will build the 1,320MW coal-fired plant in Balkhash Province, near the financial capital of Almaty.
“The power generation plant is expected to meet the high demand for electricity in Kazakhstan,” the firm said in a statement.
The project will be delivered on a lump-sum turnkey base by 2018.
“Samsung Engineering is looking forward to being part of the modernization of Kazakhstan’s power sector and furthering the strong ties between the two countries,” said Samsung Engineering executive Kim Dong-Woon in the company’s web site statement.
The joint venture ties Samsung, the Korea electric Power Corp., and Kazakh state-run Samruk Energo.
It will be the one of the largest electricity power projects in Kazakhstan so far, Samruk Energo said in a news release posted on its web site.
The Kazakh energy company said work may begin this year.