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President Nursultan Nazarbayev met South Korean President Lee Myung-bak at a working breakfast in Seoul

26 march 2012, 12:46
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Nursultan Nazarbayev and Lee Myung-bak. Photo courtesy of akorda.kz
Nursultan Nazarbayev and Lee Myung-bak. Photo courtesy of akorda.kz
Kazakhstan’s President Nursultan Nazarbayev met South Korean President Lee Myung-bak at a working breakfast in Seoul March 26. During the talks the sides dwelt on a wide range of mutual cooperation, Tengrinews.kz reports.
“President Nazarbayev emphasized that the two nations had reached the level of strategic partnership (…).

Kazakhstan is willing to consider new economic projects involving technology transfer. The sides discussed promising vectors of energy cooperation, including development of renewable sources of energy in Kazakhstan”, the President’s Press Service quotes him as saying.

During the talks Head of State expressed his satisfaction with the implementation of the two major joint projects: construction of the Balkhash thermal plant and of the 2nd stage of the integrated gas treatment and chemicals production complex in Atyrau.

The Balkhash thermal power plant is to be jointly constructed on the south-west shore of the Balkhash Lake close to Ekibastuz coal mine. The first two power generating units of the thermal power plant are to be commissioned in 2013, with the other two units being placed into operation in 2016. The design capacity of the power plant is 2 640 megawatt. South Korea’s KEPCO and Samsung hold 75% minus one share in the JV, with the Kazakhstan Government holding 25% plus one share. Construction works started in summer 2010.

The integrated gas treatment and chemicals production complex in Atyrau worth $6.3 billion should be launched at its projected capacity to produce 500 000 tons of propylene and 800 000 tons of polyethylene. The second stage will be completed in partnership with LG Chemical, the largest Korean chemical company, on a parity basis. The Korean side will be rendering technical support related to hook-up and commissioning, including personnel training at already operating facilities. The second stage is to be implemented before 2016.

“An important part of the talks was international agenda. In particular, Kazakhstan expressed its support to the South Korea’s policy to develop inter-Korean relations and spoke in favor of the Six Party Talks. The Korean side expressed its readiness to support Kazakhstan’s bid to host EXPO-2017”, the statement on the President’s website reads.

Besides, the two leaders discussed cooperation in healthcare. President Nazarbayev attended the Seoul National University Hospital. On his visit to Seoul he is expected to meet US President Barack Obama.

In 2011 the bilateral trade turnover grew by 16% to reach $1 billion. There are about 800 JVs operating in Kazakhstan, according to President Nazarbayev’s website Akorda.kz.

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