BHEL signs three agreements in Kazakhstan for power projects
In order to enhance its presence in the Central Asia and explore new business opportunities, BHEL has signed three strategic agreements with Kazakh companies during the Prime Minister Narendra Modi’s recent visit to Kazakhstan.
The first MoU was signed with JSC Samruk Energy, the national power utility of Kazakhstan having a major share in the Kazakh power sector. Both companies will work together on the projects of mutual interest.
BHEL has also signed an MoU for comprehensive co-operation in the energy sector for design and construction of power plants and CHP (combined heat and power plants) with KUS, one of the largest utility companies in the Kazakh power sector operating in power generation; heat production; transmission; sale of heat and electricity, etc. KUS is owned by the Ordabassy Group, total assets of the group is estimated at more than $9 billion.
Third MoU was signed by BHEL with Kaznex Invest, the national export and investment agency of Kazakhstan (working under the Ministry of Investments and Development of Kazakhstan), for co-operation in executing projects in Kazakhstan.