Friday, 25, September, 2020

Ministry of Energy of Uzbekistan and Altmax Holding Ltd. belonging to the Russian billionaire Andrei Filatov signed a memorandum for building of a US$1.8 billion 1.5 thousand MW gas-fired thermal power plant, TASS said.

The plant construction will be a follow-up of the 25 Years of Independence gas field development project where Altmax Holding Ltd. is a major shareholder.

Filatov explained that Russian banks — VTB and Gazprombank — are also interested in investing in the project. According to him, equipment manufacturers will also take part in project financing - by providing their products on credit on preferential terms for a period of 15 years or more.

“The construction of additional energy capacities is necessary not only for the development of local industry and agriculture, but also has serious export prospects: Afghanistan is located nearby, which, obviously, as civilian life is restored, will need electricity. I hope that once the feasibility study is completed, together with the government of Uzbekistan, we will be able to sign binding agreements and launch the project with the support of leading Russian banks such as VTB and Gazprombank,” he concluded.

The capacities of the new power plant will not only ensure the local needs of the region, but also create a reserve, including for the export of electricity to neighboring regions and countries. In the south, Uzbekistan borders immediately with three potential markets - Tajikistan, Turkmenistan and Afghanistan.

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