South Korean company to build thermal power plant in Atyrau Oblast

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A South Korean company Doosan Heavy Industries & Construction has signed an agreement with a Kazakhstani company Karabatan Utility Solutions for the construction of a thermal power station, Tengrinews reports citing Khabar TV channel.

The companies signed the agreement on $308 million. “According to the agreement, our specialists will construct a thermal electro power station working on coal with a capacity of 310 MW,” a representative of the South Korean company said.

The thermal power station will be built in Atyrau Oblast, on the Northern shore of the Caspian Sea. The construction will be completed by February 2018.

Meanwhile, South Korean businessmen are taking part in a number of large-scale projects in Kazakhstan that in total amount to $8 billion.

Last summer, President of Kazakhstan Nursultan Nazarbayev talked about plans to open a mutual investment fund with South Korea. According to the President, Kazakhstan and South Korea have been working together on 15 projects totally worth $22 billion. Other 8 new projects are still being negotiated.