Kazakhstan Chamber of Commerce in the USA


Samsung C&T and Samsung Engineering: Kazakh power plant cancelled 0

Posted on October 02, 2016 by KazCham

Centil Law Firm BI@centil.law

South Korea’s Samsung C&T Corp and Samsung Engineering Co Ltd have announced that orders for a thermal power plant project in Kazakhstan worth a combined 2.8 trillion won ($2.5 billion) have been cancelled.

In December 2014, the companies had said that they would jointly carry out the construction of a coal power plant in Kazakhstan. Samsung C&T said in another regulatory filing that it exercised a put option for its stake in the Balkhash Thermal Power Plant Joint Stock Company, the entity that placed the construction order with the Samsung companies, to Samruk Energy for $192.5 million.

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