S.Korea firm wins $2.1 bln deal for Kazakh plant

South Korea's Samsung Engineering said on Tuesday it had won a $2.1 billion order to build a power plant in Kazakhstan as the central Asian nation bids to meet growing energy demand.

Under the deal Samsung will build a thermal power plant with a capacity of 1,320 megawatts in southern Balkhash by 2018, Samsung said in a statement.

"Samsung Engineering is looking forward to being part of the modernisation of Kazakhstan's power sector and furthering the strong ties between the two countries," it said.

Kazakhstan, a former Soviet republic the size of western Europe, sits on enormous fossil fuel reserves and supplies of other vital minerals.

Rising energy prices have helped its economy post robust growth despite Europe's debt crisis.

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • Ayungin dilemma Ramon Casiple - Parallaxis
    Ayungin dilemma

    China faces a dilemma in Ayungin Shoal and other contested areas. If it waits for the ITLOS—which may decide against it—it would have tacitly bound itself to UNCLOS and risk a rogue state reputation if it asserts its claim in the South China Sea. If its militarily acts now, it may face international isolation. …

  • 48 nabbed in biggest anti-trafficking catch in Bongao VERA Files - The Inbox
    48 nabbed in biggest anti-trafficking catch in Bongao

    By Jake Soriano, VERA Files Bongao, Tawi-tawi—A team of Marines and policemen intercepted around noon Thursday 48 people, 12 of them minors, believed recruited by a human trafficking syndicate for work in Malaysia. The arrest constitutes what advocates called the … Continue reading → …

  • Docs vow to pay right taxes, make peace with BIR VERA Files - The Inbox
    Docs vow to pay right taxes, make peace with BIR

    By Kiersnerr Gerwin Tacadena, VERA Files Leaders of the medical profession have made peace with their former adversary, the Bureau of Internal Revenue (BIR), and joined forces in a campaign to get doctors to pay the right taxes. BIR Commissioner … Continue reading → …

POLL
Loading...
Poll Choice Options