Samruk-Energo postpones implementation of several projects

"In compliance with the Presidential instructions and taking into account the current economic situation, we have decided to reduce our general administrative expenses by 5% or 9 bln 400 mln tenge. We have also cut our investment program by around 23% (28 bln tenge). We refused from implementation of some projects, such as construction of the Thermal Power Plant No.3 in Semey, construction of large hydro-stations in Almaty. These projects will be implemented by local executive authorities, who will attract investors for this purpose," he explained.

According to him, the current global economic situation impacted the company's activity.

The implementation of several projects is deferred to a later date, such as construction of the third stage of the wind park in Ermentau, construction of a solar power station in southern part of Kazakhstan and reconstruction and modernization of Hydroelectric Power Station chain in Almaty.

Besides, the company postponed a number of projects on coal extraction at Bogatyr deposit.