Demir Kyrgyz International Bank interested to invest in construction of Karakul HPP

Kyrgyzstan Materials 11 February 2023 13:35 (UTC +04:00)
Alyona Pavlenko
Alyona Pavlenko
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BAKU, Azerbaijan, February 11. The CJSC Demir Kyrgyz International Bank is interesting in participation in the construction of the Karakul small hydroelectric power plant (HPP) in Kyrgyzstan, along with a foreign investment company, Chairman of the Cabinet of Ministers of the Kyrgyzstan Akylbek Zhaparov, said, Trend reports with reference to Kyrgyz media.

According to the chairman, initially it was planned that the World Bank (WB) would become an investor, however, in that case, the ratification process of the project would take some time.

“In turn, the board of the bank (Demir Kyrgyz International Bank) and the foreign investor intend to complete the construction of small HPP in a year and a half or in two years,” Zhaparov said.

Previously, the Ministry of Energy of Kyrgyzstan announced that it was ready to declare competition on construction of the small HPP in Kara-Suu (Black Water) river in Jalal-Abad Region in the southwestern Kyrgyzstan.

The estimated cost of the Karakul HPP construction made up $25 million. The project capacity amounted to 18 megawatt, with a planned average year capacity of 110 million kilowatt per hour.

CJSC Demir International Bank, the first international bank in Kyrgyzstan, is a member of the following business-associations and organizations: International Business Council, American Chamber of Commerce Am Cham, Union of Banks of Kyrgyzstan, Deposit Protection Agency of the Kyrgyzstan, Rotary Club and TÜKID.