Japan allocates loan to Uzbekistan to modernize Navoi Thermal Power Station

Business Materials 23 August 2013 17:55 (UTC +04:00)

Uzbekistan, Tashkent, Aug. 22 /Trend D.Azizov/

Japanese government allocated a long-term loan to Uzbekistan for Navoi Thermal Power Station Modernization Project, a representative in Uzbekistan's government circles told Trend on Thursday.

The loan amounted to 34,877 billion yens (about $353.873 million), the interlocutor said.

The loan is provided through the Japanese government's 'Official Development Assistance' (ODA) program.

The exchange notes on allocation of funds were signed on Thursday by the Ambassador of Japan to Uzbekistan Fumihiko Kato and Uzbek Minister of Foreign Economic Relations, Investments and Trade Elier Ganiev.

According to the interlocutor, the funds allocated by Japanese government will be used for the supply of technical equipment.

As it was previously reported, in 2013-2015 the SJSC Uzbekenergo plans to implement a project on modernizing Navoi Thermal Power Station worth about $516 million.

It is planned to build the second steam gas plant with a capacity of 450 megawatt (including gas booster compressor of the station).

In addition to Japanese government's credit, the funding of the project will be carried out at the expenses of Uzbekenrgo's own funds and the credit of the Fund for Reconstruction and Development of Uzbekistan.