Publication: Monitor Volume: 2 Issue: 116

Kazakhstan’s deputy prime minister, Harry Steuck, signed yesterday in Almaty on behalf of his government two joint venture agreements with international partners. The Netherlands-based IBB industrial group and Kazakhstan, forming the joint venture IBB Kazakhstan, will build a 640 megawatt coal-fired power plant on the shore of Lake Balkhash, using IBB technology and local labor. The cost of the project is $350 million, and the Western partner will own and operate the plant for 20 years from its planned commissioning in the year 2000.

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