Tashkent, Uzbekistan (UzDaily.com) -- South Korean company SK Engineering & Construction won a tender for the modernization of Mubarek Thermal Power Plant. The project cost is US$600 million, Business Korea reports.

According to the media outlet, on 27 January, the company signed project agreements with the Ministry of Energy and the Ministry of Investment and Foreign Trade of Uzbekistan, as well as Korea Energy Corp.

In accordance with the document, the Government of Uzbekistan will purchase electricity generated by the Mubarek thermal power plant for 25 years. Also, the Government will supply fuel to the Mubarek thermal power plant for free of charge.

The publication reports that this will allow SK E&C to receive a stable income from the operation of this power plant.

In October 2019, the Ministry of Energy of the Republic of Uzbekistan, the Korean Energy Agency (KEA) and the Korean company SK Engineering & Construction (SK E&C) signed a Memorandum of Understanding to develop a feasibility study for the modernization of the Mubarek CHPP.