Kazakhstan is holding negotiations with Russia over export credit financing for equipment needed to build three thermal power plants (TPPs) in the northern and western parts of the country, First Deputy Prime Minister Roman Sklyar told reporters.
“Yes, there are issues related to subsidizing interest rates for the equipment, so we’re continuing negotiations until this is resolved. However, we haven’t paused design and early preparation work—particularly in Kokshetau,” he said. “We need to secure export financing for the equipment that will be part of the power plant project.”
Sklyar explained that export financing is typically provided by the country supplying the equipment. “The equipment comes from the Russian Federation, which has traditionally supplied machinery for our TPPs. They are expected to offer preferential financing, and we’re waiting for that to be finalized,” he added.
In April 2024, Kazakhstan and Russia signed an intergovernmental agreement to cooperate on the construction of three coal-fired thermal power plants in Kokshetau, Semey, and Ust-Kamenogorsk. The Kazakh government aims to complete the projects in stages by 2032.
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Photo: Federation Council
Based on TASS materials