Eurasian Integration Yearbook 2012

Aigul Absametova. “Integration Processes in the Electric PowerSectors of the EDB Member States”Advanced Economic Cooperationin Sectors and Industriesbillion. Social, transport and production infrastructure will cost an additional$2.5-3 billion (Atominfo.ru, 2011).Russia and KazakhstanThe construction of Unit 3 at Ekibastuz GRES-2, which is jointly owned bySamruk Energo (50%) and INTER RAO UES (50%), will raise the plant’s capacityby 50% to 1,500 MW.Note:The governments of Russia and Kazakhstan signed an agreement on the construction and operation of Unit 3 atEkibastuz GRES-2 on September 11, 2009. The project cost is estimated at $800 million. Financing terms wereagreed in the summer of 2010 in Kazakhstan. The document was signed by EDB, Vnesheconombank, EkibastuzGRES-2 JSC, Samruk Energo and INTER RAO UES. In accordance with the agreement, EDB and Vnesheconombankwill provide a multi-currency 15-year loan for a total of $770 million, on a parity basis. Halyk Bank ofKazakhstan also became party to the agreement in June 2011 as the third lender.In addition, Bogatyr Komir, a Kazakh-Russian JV, is developing the Bogatyr coaldeposit which supplies coal to Ekibastuz GRES-2. This company is owned bySamruk Kazyna and RUSAL.Note:EDB agreed to finance Kazakhstan’s largest coal producer, Bogatyr Komir. EDB’s seven-year loan for a totalof up to $50 million will be used to purchase up-to-date equipment and machinery. The increase in coalsupplies is expected to boost mutual trade between Russia and Kazakhstan by $30 million a year. In addition,about 80% of the required equipment (worth around $40 million) will be supplied to the project by Russianenterprises.In June 2010 Karaganda Energotsentr (Kazakhstan) contracted Power Machinesto manufacture and supply equipment for a 150 MW fifth unit (currently underconstruction) at Karaganda TPP-3. In March 2011 the turbine generator wascommissioned (Bigpowernews.ru, 2011). Power Machines also providedsupervision, start-up and training.In June 2011 a long-term programme for the re-equipment and reconstruction ofthe Bukhtarma HPP, which is being implemented since 2001, was completed.The ninth power unit (Unit 7 at the plant) and a turbine upgraded by PowerMachines were commissioned. As a result the plant’s capacity rose from 75MW to 82 MW (Power Machines, 2011b).Kazakhstan and Russia are keen to develop and integrate their nuclear sectors.EDB’s Sector Report No.11, Russian and Kazakh Nuclear Energy: Trends inEconomic Cooperation, provides more information on this issue.Eurasian Development Bank201