Samruk Energy expects to raise $1bn through subsidiary sell-offs

Samruk Energy Chairman Satkaliev

Samruk Energy – Kazakhstan’s state-run holding company for the country’s power generating sector – can raise as much as $1bn when it brings a second tranche of subsidiaries to market next year, its Chairman Almasadam Satkaliev said this week. About 20-25% of the shares are to  be earmarked  for individuals and private investors, with most of revenues raised being reinvested back into the country’s energy infrastructure. The IPOs are part of the  country’s  larger 2014-2016 privatisation programme which will see 106 enterprises and assets being put up for sale. So far six companies have been sold off, raising KZT 836m ($4.6m) for the government and its national wealth fund Samruk Kazyna. NewsKaz

Kazakhstan suspends EXPORT of electricity to russia due to weak rouble

In an unrelated move, Kazakhstan this week stopped exporting electricity to Russia because the devaluation of the rouble has made it unprofitable for its plants to continue. Its Ekibastuz-1 normally exports 1bn KWH to Russia each year. Times of Central Asia.