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Turonbank Signs Deals Worth $85.8 m with China’s Eximbank

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Turonbank Signs Deals Worth $85.8 m with China's Eximbank

During the state visit of the President of Uzbekistan Shavkat Mirziyoyev to the People’s Republic of China in May 2017, the two sides signed an agreement on cooperation in the field of construction and modernization of hydroelectric power stations in our country.

In order to develop bilateral cooperation on the implementation of the program for the construction and modernization of hydroelectric power stations in Uzbekistan and in accordance with the 17 October 2017 presidential resolution, a loan agreement of $ 58.5 for a period of 20 years was signed on November 30 between Turonbank and Export-Import Bank of China to finance the projects of JSC Uzbekhydroenergo for the construction of 4 small hydroelectric power stations in the Tashkent, Namangan and Surkhandarya regions.

During the latest summit meeting of the Shanghai Cooperation Organization in Qingdao on June 9-10, 2018, and the implementation of the Presidential Decree inked 4 January 2018, Turonbank and the Export-Import Bank of China penned loan agreements worth $ 85.8 million for a period of 20 years to fund the projects of JSC Uzbekhydroenergo for the construction of a hydroelectric power station in the Tashkent region and the modernization of four hydroelectric power stations in Tashkent, as well as in Andijan and Tashkent regions.

Following the construction and modernization of the above-mentioned hydroelectric power stations, their capacity will reach 62.1 MW, while the average annual power generation will be at 406.1 million kWh.

At the moment, JSCB Turonbank and JSC Uzbekhydroenergo are preparing new projects for the construction and modernization of hydroelectric power stations in Samarkand and Tashkent regions for $ 46.6 million.

It is worth reminding that Turonbank has a branch network throughout the country: 19 branches and 31 mini-banks that provide full range of banking services to bоth corporate entities and individuals.

UzA