Russia grants Kazakhstan $ 700 mm energy loan

Jul 05, 2010 02:00 AM

Russia will lend Kazakhstan $ 700 mm to build the third energy block of the Ekibastuz power plant, a loan agreement signed by the Russian and Kazakh presidents said.
The power plant's installed energy capacity is 1,000 MW, with its two energy blocks producing about 12 % of all Kazakh electricity. The third block will increase the plant's installed capacity by 50 %.

The two units of the Ekibastuz power plant in Kazakhstan's north-eastern Pavlodar Province were built in the late 1980s to early 1990s. Construction of the plant's third unit began in 1990 but was subsequently frozen.
The power plant has the world's tallest 420-meter high flue gas stack, which is some 38 meters taller than the Inco Superstack in Canada's Sudbury.

Russian President Dmitry Medvedev and his Kazakh counterpart Nursultan Nazarbayev also signed an agreement on cooperation in the peaceful use of nuclear energy.
The two presidents met during a session of the member states of the Eurasian Economic Community, or Eurasec, in Astana.

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