Uzbek leader approves measures on implementation of project “Construction of Turakurgan thermal power station”

The document was adopted to further developing generating capacities due to introduction of modern high efficient energy saving technologies, increasing reliability of operation of energy system of the country and ensuring sustainable electricity supply to consumers in Uzbekistan.

The document said that Japan International Cooperation Agency (JICA) approved allocation of a loan for 71.8 billion yens (US$704 million) to Uzbekistan to finance project on construction of Turakurgan thermal power station. The loan is issued for 40 years, including 10 year grace period.

The resolution said that Uzbekenergo is an executive body, responsible for timely and full implementation of the project, as well as targeted and efficient use of JICA loan.

National Bank of Uzbekistan for Foreign Economic Activity is a financial agent on servicing the loan of the JICA.

The expenses, related with payment of loan and interest rates, as well as commissions, will be covered due to own resources of Uzbekenergo.

National Bank of Uzbekistan for Foreign Economic Activity was entrusted to sign an inter-banking agreement with Tokyo-Mitsubishi UFJ. Ltd. (Japan) to use the loan of the JICA.

Uzbekenergo was entrusted to develop and agree feasibility study of the project “Construction of Turakurgan thermal power station” at authorized bodies and direct it to the Cabinet of Ministers for approval.

As reported earlier, the Government of Uzbekistan and JICA signed the loan agreement on this project in Tashkent on 11 November 2014.