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Kazakh PM Orders Govt Co-Ownerhip Of Kazakhmys Power Plant

Kazakh PM Orders Govt Co-Ownerhip Of Kazakhmys Power Plant
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Πεμ, 7 Φεβρουαρίου 2008 - 03:17
Kazakh Prime Minister Karim Masimov Thursday told state holding company Samruk to hold talks with copper producer Kazakhmys PLC (KAZ.LN) to become a shareholder in a coal-fired power generator the company is buying from Arlington, Va.-based energy company AES Corp. (AES).
Kazakh Prime Minister Karim Masimov Thursday told state holding company Samruk to hold talks with copper producer Kazakhmys PLC (KAZ.LN) to become a shareholder in a coal-fired power generator the company is buying from Arlington, Va.-based energy company AES Corp. (AES).

"I think you need to hold talks with Kazakhmys so that the state can also become a shareholder," Masimov was quoted as saying to Samruk officials in a report on the government's Web site.

Kazakhmys said Tuesday it was purchasing Ekibastuz coal-fired power plant and Maikuben West coal mine from AES for up to $1.5 billion. Kazakhmys and AES said they expected the deal to close in the second quarter of this year.

Kazakhstan is attempting to tighten its grip over energy assets and also to expand its electric-generation capacity, which is not keeping pace with its fast growing economy.

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