China to allocate Uzbekistan loan to construct, upgrade hydropower plants

Business Materials 8 June 2018 21:38 (UTC +04:00)

Baku, Azerbaijan, June 8

By Fikret Dolukhanov – Trend:

Uzbekistan's Turonbank JSCB and Export-Import Bank of China signed a loan agreement worth $85.8 million, the press service of the Uzbek bank reported on June 8.

The agreement was signed in preparation for the summit of the Council of Heads of State of the Shanghai Cooperation Organization, which will be held in Qingdao, China, on June 9-10.

The loan will be allocated for a period of 20 years to finance projects of Uzbekhydroenergo JSC on construction of a hydropower plant in the Tashkent region and upgrade of four hydropower plants in Tashkent as well as in the Andijan and Tashkent regions.

The capacity of the said hydropower plants will reach 62.1 megawatts and the average annual electricity production will increase to 406.1 million kilowatts.

Turonbank JSCB and Uzbekhydroenergo JSC are currently preparing new projects for construction and modernization of hydropower plants in the Samarkand and Tashkent regions totaling $46.6 million.


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