Middle East Economic Survey
Kazakhmys Sells 25% Stake In Power Plant
Kazakh minerals and power conglomerate Kazakhmys PLC announced on 13 October the sale to Samruk-Kazyna JSC, a government-owned national welfare fund, of a 25% stake in the countrys largest electricity generation plant for $339mn. Kazakhmys bought the Ekibastuz GRES-1 unit outright in May 2008 for $1.1bn. However, the rapid decrease of mineral and commodity prices since July 2008 has undercut the...