Kazakhstan counting on loan from Russia to construct three coal-fired thermal power plants - Energy Ministry

ASTANA. Jan 29 (Interfax) - Kazakhstan hopes to finance the construction of three coal-fired thermal power plants specifically by attracting funds from the Russian government, Kazakh Energy Minister Almassadam Satkaliyev said on Wednesday at a briefing in Astana.

"Our main scenario is a loan from the Russian government with subsidies. This is currently the subject of negotiations, namely what amount will be financed," Satkaliyev said regarding the construction of three thermal power plants with Russia's participation.

Satkaliyev said that a mechanism to finance the projects is currently under development.

"If this is a commercial loan, then this is one cost. If this is from the National Fund, then this is a different story," he specified.

As reported, Kazakhstan plans to construct three thermal power plants jointly with Russia in the cities of Kokchetav at capacity of 240 MW, Semey at 360 MW, and Ust-Kamenogorsk at 360 MW. PJSC Inter RAO has been selected to implement the projects, and the company's role will be to manage the projects and be the general contractor.