The Cabinet of Ministers issued a Resolution outlining the measures for the implementation of the construction project of the third 650 MW combined cycle plant at the Navoi thermal power plant, Norma said.

The Resolution noted that the deal was signed with the Japan International Development Agency (JICA) for a 128,246 million Japanese yen worth of 30-year loan to finance the project with a 10-year grace period. The project is scheduled to be completed in 2024.

The implementation and monitoring of the project is entrusted to JSC "Issiklik Elektr Stantsalari, while JSC "Navoiy Issiklik Electr Stantsi" will be in charge for the timely and quality implementation of the project, targeted use, as well as for the return of credit funds. The disbursement of JICA loan funds will begin after the approval of the project feasibility study.

The National Bank for Foreign Economic Activity (NBU FEA) will service the loan on the basis of an interbank agreement. And the Minister of Finance is authorized to sign, on behalf of Uzbekistan, an agency agreement on the use of credit funds between the National Bank of Foreign Economic Activity, Issiklik Electr Stationsalari JSC and Navoi Issiklik Electr Stantsi JSC.

As an exception, Navoiy Issiklik Elektr Stantsi JSC is given the right, within the framework of the project, to sign a direct contract without call for bids with Tokyo Electric Power Services Co., Ltd (Japan) for consulting services for the preparation of bidding documents for selection of a general contractor, holding and evaluation of bids.