Kazakhmys Pact With RusHydro To Consider Establishing JV

06/08/2012| 06:10am US/Eastern

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LONDON--Kazakhmys PLC (>> Kazakhmys plc), a natural resources company, said Friday that it has signed an agreement with JSC RusHydro, one of Russia's power generating companies, to consider establishing a joint venture which will review the development of small hydro-electric plants in Kazakhstan with a total capacity of up to 300 MW.

MAIN FACTS:

-It is anticipated that up to 30% of the possible project costs will come from Kazakhmys and RusHydro, with the balance coming from external project finance.

-Kazakhmys PLC shares at 0952 GMT down 17 pence, or 2.3%, at 711 pence, valuing the company at GBP3.81 billion.

-Write to Razak Musah Baba at razak.baba@dowjones.com

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