Oct. 17, 2000 (IndustrySuppliers.com)—Kazakhstan has signed a deal with Russia’s Unified Energy Systems for a joint venture in their power sectors.

According to the deal, UES will take a 50% stake of Kazakhstan’s Ekibastuz power station and in return cancel Kazakhstan’s debt of U.S. $300 million.

The power station will then be merged with Russia’s Pavlodar power station located in Siberia. The targeted final outcome of the Kazakh-Russia deal is to set up a company called Ural Heating and Energy Complex which in the long run will unify several Russian power stations with Ekibastuz and two coal mines of Kazakhstan.

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