Chinese bank syndicate to lend $188 million for gas-fired power plant in Aktau(corrects the conversion in the headline)A syndicate of Chinese banks is investing 87.9 billion tenge to build a 160-megawatt gas-fired power plant in Aktau, Qazaqstan Investment Corporation said Thursday.Aktau Energy Co. signed the financing agreements May 13 in Beijing.Financing comes from China Development Bank, Industrial and Commercial Bank of China, and Industrial and Commercial Bank of China Almaty."The borrowed funds will cover up to 70% of the project's cost," the investment corporation said in a statement.Total project cost is 1.5 billion yuan, or about 125.6 billion tenge, according to Qazaqstan Investment Corporation. Of that, 1.05 billion yuan comes from bank financing, with the remaining 450 million yuan provided by project participants as contributions to the Aktau Energy Company's charter capital.The project involves China Huadian Corp., one of China's largest state-owned energy companies. The Kazakh side is represented by Kokzhiyek Fund LP, a private equity fund managed by Qazaqstan Investment Capital Management Ltd., part of Qazaqstan Investment Corporation, a subsidiary of the Baiterek holding company.The gas-fired plant is intended to address electricity shortages in the Mangistau region, ensure stable energy supplies and improve reliability of Kazakhstan's western power grid.The facility is scheduled to begin operating in the second half of 2027.Earlier, project participants signed a joint implementation agreement. In March 2026, Kazakhstan's Energy Ministry and Huadian Kazakhstan Energy Ltd. signed an investment agreement that includes government support measures.China Huadian Corp. is one of five state-owned national power generators in China.Industrial and Commercial Bank of China Almaty is a subsidiary of China's largest bank, offering corporate and retail services including deposits, transfers and international settlements.Qazaqstan Investment Corp. is a state-backed private equity fund created to support growth and development of Kazakhstan's national economy. (ICE ALMATY)

Fonte notizia: INTERFAX