Development Bank of Kazakhstan JSC (a subsidiary of Baiterek Holding, hereinafter – DBK, the Bank) and Kazakhmys Energy LLP have signed an agreement to open a credit line for the construction of a 75 MW combined-cycle power unit in the city of Zhezkazgan.
The Bank will finance 77% of the total project cost by providing a loan of CNY 788.9 million. The funds will be used to purchase equipment, carry out construction and installation works, and complete commissioning activities. The project is aimed at reducing the shortage of electricity and flexible generation capacity in the Northern Energy Hub, as well as ensuring power supply for industrial and other consumers in the region. Once the facility reaches its design capacity, its planned annual output will amount to 501,948 thousand kWh.
The project will use modern high-tech equipment manufactured by Siemens Energy AB and Harbin Electric International. The facility is scheduled to be commissioned by the end of 2027. The project is expected to increase annual tax revenues to the budget and create 76 new jobs in the region.
