Samruk Energy Sees $63 Billion Invested in Kazakh Power by 2030

Samruk Energy JSC, the energy unit of Kazakhstan’s National Wellbeing Fund Samruk-Kazyna, expects the nation’s power industry to attract $63 billion of investment by 2030, Chief Executive Officer Almassadam Satkaliyev said.

“We’re talking about not only the company’s own investment but also about raised investment, the government’s investment and sponsors’ money,” Satkaliyev said today in an interview in the Kazakh capital Astana.

Samruk Energy will invest about 100 billion tenge ($666 million) this year in Kazakh electricity, he said. The amount of investments will rise gradually from year to year, depending on building plans, he said. Construction of the Balkhash Power Plant and the Turgay Power Plant and the modernization of the Ekibastuz Water-Power Plant-2 and the Aksu Water-Power Plant are some of the planned projects.

To contact the reporter on this story: Svetlana Antoncheva in Astana, Kazakhstan at santoncheva1@bloomberg.net

To contact the editor responsible for this story: Hellmuth Tromm at htromm@bloomberg.net

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