Ekibastuz TPP-1 becomes Samruk-Energo property
15:50, 2 April 2014
ASTANA. KAZINFORM - Kazakhmys Group announces the completion of the transaction with "Samruk-Energo" JSV on selling 50% of shares in the Ekibastuz TPP-1. Received funding is equaled to USD 1.25 billion.
Ekibastuz TPP-1 is the largest power plant in Kazakhstan, operating on coal. The enterprise has launched the modernization program, which will improve the performance of the plant to the design capacity of 4000 MW compared to 2500 MW at the time of purchase. Currently, the power plant's capacity is 3000 MW. Kazakhmys acquired Ekibastuz TPP-1 in 2008 for USD 1.26 billion. In 2010, the company sold 50 % of shares to "Samruk-Kazyna" welfare fund for USD 681 million. Later "Samruk -Kazyna" welfare fund handed shares in Ekibastuz TPP-1 to its subsidiary "Samruk -Energo" JSC.