Kazakh govt recalls bill on $6 bln UAE energy deal from parliament | Reuters
Kazakhstan's government has recalled from parliament a bill on the ratification of a planned $6 billion renewable energy deal with the Abu Dhabi’s holding company ADQ and energy company Taqa (TAQA.AD), a document published on Wednesday showed.
Prime Minister Alikhan Smailov signed a decree recalling the bill on Monday, according to the official legal database, the first working day after a week of violent unrest that led to the previous cabinet's resignation.
The decree cited no reasons for the move. Some industry analysts have questioned the deal announced last month as it was not preceded by competitive bidding.
Under the planned deal, the UAE companies and Kazakhstan's sovereign fund were to set up a joint company that would receive stakes in two Kazakh hydroelectric power plants and build a solar power plant, a wind farm and a gas power plant in the former Soviet republic.
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