RPT-UPDATE 2-Kazakhmys pays $1.5 bln for power plant, coal field

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ALMATY, Feb 5 (Reuters) - Kazakhmys Plc (KAZ.L) will pay $1.5 billion to acquire the biggest power plant in Kazakhstan as well as a nearby coal field, the copper company said on Tuesday.

Kazakhmys said in a separate statement it was also raising a pre-export finance debt facility of $2.1 billion to finance the deal and for other purposes.

Kazakhmys said it signed the agreement with AES Corp. (AES.N) to buy the Ekibastuz coal-fired plant and Maikuben West coal mine for an initial cash payment of $1.1 billion and a deferred cash payment and other payments of up to $381 million.

"Ekibastuz offers significant growth opportunities with capacity to double output over the next 5 years from current available capacity of 2,250 megawatts," it said in a statement.

"The captive coal mine at Maikuben provides a secure base of raw material supply, with current output of 3.1 million tonnes of coal with estimated mine life of about 30 years based on A, B, C1 classification of reserves," it said.

Kazakhmys said it saw the project's capital expenditure for the three years from 2008 to 2010 at $650 million.

AES, a U.S. energy company, said separately that the sale was subject to regulatory and third-party approvals, as well as customary purchase price adjustments.