Doosan's Park Jung-won Meets with Kazakhstan President to Discuss Energy Business Cooperation

Kazakhstan Declares Carbon Neutrality by 2060
Chairman Park Jung-won and President Tokayev Hold Separate Meeting on the 12th
Doosan Enerbility Signs Agreement with Local Company

Park Jung-won, chairman of Doosan Group, who accompanied President Yoon Suk-yeol's Central Asia tour as part of the economic delegation, held a separate meeting with the President of Kazakhstan to discuss cooperation plans for energy power generation projects. Additionally, Doosan Enerbility signed cooperation agreements with local companies, officially expanding its power generation business in Kazakhstan.

Park Jung-won, Chairman of Doosan Group (left), is shaking hands with Kassym-Jomart Tokayev, President of Kazakhstan, before their meeting.
[Photo by Doosan Group]

On the 12th (local time), Doosan Group announced on the 13th that Chairman Park and Kassym-Jomart Tokayev, President of Kazakhstan, met at the Hilton Astana Hotel, where the Korea-Kazakhstan Business Forum was held, to discuss cooperation plans in Kazakhstan's energy industry. The meeting was attended by Almasadam Satkaliyev, Minister of Energy of Kazakhstan; Murat Nurtleu, Minister of Foreign Affairs; Nurlan Zakupov, CEO of Samruk-Kazyna; and Doosan Enerbility Vice Chairman Jung Yeon-in and Executive Vice President Kim Jeong-gwan.

Kazakhstan's fossil fuel power generation capacity accounts for nearly 80% of the total. More than half of this consists of aging thermal power plants over 30 years old, increasing the need for repair, maintenance, and modernization. Furthermore, the Kazakh government has declared carbon neutrality by 2060 and is promoting diversification of the energy mix and expansion of renewable energy.

Chairman Park said, "Doosan, which possesses technological capabilities and business achievements in the energy sector, prides itself on being the optimal partner for Kazakhstan's energy projects," adding, "We hope for your interest and support so that Doosan can contribute more to the development of Kazakhstan's energy industry."

President Tokayev responded, "We have a special interest in the Turkistan power plant construction that Doosan is undertaking and will continue to pay close attention in the future."

Doosan Enerbility signed a Memorandum of Understanding (MOU) to promote the supply of environmental equipment for power plants in Kazakhstan with Samruk Energy at the 'Korea-Kazakhstan Business Forum' held in Kazakhstan on the 12th. From the left: Ahn Deok-geun, Minister of Trade, Industry and Energy; Kim Do-yoon, Vice President of KEPCO KPS; Kim Jeong-gwan, Vice President of Doosan Enerbility; Ruslan Yelubayevich Turgambayev, Vice President of Samruk Energy; Kanat Sharlapayev, Minister of Industry and Construction of Kazakhstan.
[Photo by Doosan Group]

On the same day, Doosan Enerbility signed a cooperation agreement with Samruk-Kazyna at the Presidential Palace of Kazakhstan in the presence of the two countries' leaders. Samruk-Kazyna is Kazakhstan's sovereign wealth fund and owns several companies, including Samruk-Energy, which is responsible for power generation and supply. Based on this agreement, the two companies will jointly cooperate in Kazakhstan's power generation industry and promote programs such as talent development and technology exchange. Additionally, a memorandum of understanding (MOU) was signed to jointly supply environmental equipment to a total of five power plants, including two aging thermal power plants and three new thermal power plants, in collaboration with Samruk-Energy and KEPCO KPS.

Jung Yeon-in, Vice Chairman of Doosan Enerbility, said, "Doosan Enerbility has been recognized for its capabilities and built trust through project execution in Kazakhstan," adding, "We hope to become a partner in the development of Kazakhstan's power infrastructure through this agreement."

Last year, Doosan Enerbility signed a contract worth 1.15 trillion won with Turkistan LLP, a subsidiary of Samruk-Kazyna, for the construction of a combined cycle power plant. This power plant is scheduled to be built with a capacity of 1,000 MW by 2026 in the Shymkent region, an industrial area in southern Kazakhstan. Previously, in 2015, Doosan Enerbility secured the 310 MW Karabatan combined cycle power plant project with another subsidiary of Samruk-Kazyna, which was completed in 2020.