Net profit of Syrdarya thermal power plant decreases by 4.7 times in 2011

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

Net profit of Syrdarya thermal power plant (JSC Syrdarya TPP), the largest power plant in Central Asia, decreased by 4.7 times at the end of 2011 compared to 2010, to 817.03 million soum, which is indicated in the annual balance sheet of thermal power plants, published in the media on Tuesday.

According to the report, the net proceeds from the sale of products increased by 21.7 percent - up to 464.27 billion soum during the past year the past year, the cost - by 24 percent, to 437.72 billion soum, the gross profit - by 7.4 percent, to 26, 56 billion soum.
Last year, the Syrdarya thermal power plant has reduced the generation of electricity by 0.3 percent - up to 13.574 billion kW / h, the supply of electricity decreased by 0.7 percent - up to 12.802 billion kw / h, the report says.

According to the balance sheet assets of the company increased by 14.4 percent in 2011 - up to 547.72 billion soum, including current assets - by 11.3 percent, to 441.48 billion soum, long-term assets - by 29 percent, to 106.236 billion soum.

The obligations of the company increased by 13.4 percent - up to 446.99 billion soum.
The equity of Syrdarya thermal power plant has grown by 18.9 percent over the reporting period and amounted to 100.728 billion soum at the beginning of 2012, including the share capital increased by 30.6 percent - up to 17.887 billion soum. Some 99 percent of share capital in the structure is owned by the state, and one percent - by the labor collective.

Syrdarya thermal power plant was commissioned in 1981 with an installed capacity of 3,000 MW (10 power units of 300 MW). Annual delivery of electricity to the integrated energy system of the republic is 13 billion kWh, or 32 percent of the total electricity generated in Uzbekistan.

The German Siemens AG reconstructed power plants worth $45.4 million in 2002. Two power stations (7th and 8th) were planned to be modernized within the project.

The project was financed by a loan from the European Reconstruction and Development Bank to the amount of $27.8 million and Uzbekenergo's own funds.

Russian "Power Machines" company repaired the fifth power unit of the station with capacity of 300 megawatts and cost approximately $ 20 million in June 2009. The project was financed by Uzbekenergo's own funds.

As previously reported, the current State Joint-Stock Company Uzbekenergo holds a tender for selection of contractor for modernization of Syrdarya thermal power plant with a starting price of $57.3 million.

Under the terms of the tender, the winner must carry out the design and installation of equipment for the reconstruction of two power units (3rd and 4th) with a capacity of 300 MW. The reconstruction will increase the plant capacity to 50 MW. The term of the commissioning of power units is October-December 2013.

Funding for projects worth $60 million will be carried out on an equal footing through the credit of the Fund for Reconstruction and Development of Uzbekistan and own funds of Uzbekenergo.

At present, about 45 power plants with total capacity of about 12,400 MW, including 16 "Uzbekenergo" power plants with a total capacity of 12,040 MW operate in the Uzbek power system.

According to the official statistics, Uzbekistan increased electricity production by 1.3 percent up to 52.416 billion kilowatt-hours in 2011 compared to 2010.

Official exchange rate on May 22 is 1865.13soum/$1

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