Kazakhstan, Astana, Feb. 8 / Trend, D. Mukhtarov /
The Kazakhmys corporation has started negotiations for the sale of Ekibastuz GRES-1 in Kazakhstan, the official website of the corporation said today.
In response to mass media reports regarding Kazakhmys group's 50-percent ownership share in the Ekibastuz GRES-1, the largest power plant in Kazakhstan, the corporation announced that it has entered into negotiations regarding this ownership stake," the statement said.
As noted by the company, the talks are at an early stage it is unknown whether they will lead to a deal. The company will make a further report on the results of negotiations.
The corporation also reminded that Kazakhmys purchased the power station in 2008 for $1.280 billion. Kazakhstan's National Welfare Fund Samruk-Kazyna acquired a 50 percent stake in Ekibastuz-1 for $681 million.
During first six months of 2012 Ekibastuz GRES-1 received $ 278 million of sales revenue, with EBITDA accounting for $ 184 million.
Kazakhmys is a leading international natural resources group with significant interests in copper, gold, zinc, silver and power generation. It is the largest copper producer in Kazakhstan and one of the top worldwide with seventeen operating mines, ten concentrators and two copper smelters.