Kazakh government recalls bill from parliament on UAE $ 6 billion energy deal

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A building of the Mazhilis, the lower house of the parliament of Kazakhstan, is seen in Astana, Kazakhstan, on October 11, 2015. REUTERS / Shamil Zhumatov / File Photo

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ALMATY, Jan. 12 (Reuters) – The Kazakh government reminded parliament of a bill to ratify a $ 6 billion renewable energy deal with Abu Dhabi holding ADQ and energy company Taqa (TAQA.AD), according to a document released Wednesday. .

Prime Minister Alikhan Smailov on Monday signed a decree recalling the bill, according to the official legal database, the first working day after a week of violent unrest that led to the resignation of the previous government.

The decree cited no reason for the move. Some industry analysts have questioned the deal announced last month because it was not preceded by a tender.

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As part of the planned deal, the UAE companies and Kazakhstan’s sovereign wealth fund were to create a joint venture that would receive stakes in two Kazakh hydropower plants and build a solar power plant, a wind farm, and a gas power plant in the former soviet republic.

Reuters was not immediately able to reach ADQ or Taqa for after-hours comment.

Protests against rising fuel prices in Kazakhstan turned violent last week and resulted in the sidelining of its veteran Nursultan Nazarbayev, who resigned as president in 2019 but retained extensive powers as as president of the security council.

At the height of the crisis this month, President Kassym-Jomart Tokayev has said he is assuming the role of the security council. Nazarbayev made no comment and has not been seen in public since the unrest began.

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Reporting by Olzhas Asezov Additional reporting by Tamara Vaal in Nur-Sultan; Editing by Lisa Shumaker

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