Overview

China Development Bank provides $220 million loan for 370MW Tashkent Combined Cycle Power Plant Modernization Project

Commitments (Constant USD, 2023)$238,439,924

Commitment Year•2012Country of Activity•UzbekistanDirect Recipient Country of Incorporation•UzbekistanSector•EnergyFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Aug 8, 2012

Start (actual): Sep 1, 2012

End (actual): Jan 19, 2016

First repayment (originally scheduled): Aug 8, 2015

Last repayment (originally scheduled): Aug 5, 2027

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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Tashkent Thermal Power Plant (ТашГРЭС) is located in Tashkent. More detailed locational information can be found at http://globalenergyobservatory.org/geoid/41749 and https://www.openstreetmap.org/relation/2383549

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

China Development Bank (CDB)

Cofinancing agencies

Government Agencies

Japan International Cooperation Agency (JICA)

Private Sector

SYNECTA a.s.

State-owned Banks

Fund for Reconstruction and Development of Uzbekistan
Joint-Stock Commercial Bank "Uzbek Industrial and Construction Bank" (JSCB Uzpromstroybank) (UzPSB)

Receiving agencies

State-owned companies

Uzbekenergo State Joint Stock Company (SJSC)

Implementing agencies

State-owned companies

Uzbekyengilsanoat JSC

Guarantors

Government Agencies

Government of Uzbekistan

Loan desecription

China Development Bank provides $220 million loan for 370MW Tashkent Combined Cycle Power Plant Modernization Project

Grace period•3 yearsGrant element•30.6796%Interest rate (t₀)•4.32065%Interest type•Variable Interest RateLoan tenor•6-month rateMaturity•15 years

Narrative

Full Description

Project narrative

On August 8, 2012, Uzbekenergo State Joint Stock Company (SJSC) secured a loan agreement (agreement #6510201201100000066) from China Development Bank worth $220 million to finance for the 370MW Tashkent Combined Cycle Power Plant Modernization Project. The loan carried the following terms: 15 year maturity, 3 year grace period, and an interest rate equal to six month LIBOR rate plus a 3.6% margin (with an average six month LIBOR rate of.687 % for the year of 2012). The Government of Uzbekistan provided a sovereign guarantee for the loan. This project involved a 370 MW steam-gas installation. The total project cost was $511.8 million. This project was not only financed by the CDB loan, but also by Uzbekistan's Reconstruction and Development Fund ($76.2 million), Synecta a.s. ($68.9 million), Uzbekenergo ($117.7 million), Uzpromstroybank ($26.9 million), and Japan International Cooperation Agency ($2.037 million). Construction began in 2012. This project was completed on or around January 19, 2016.

Staff comments

1. The Russian name of this project is "Строительство парогазовой установки мощностью 370 МВт на Ташкентской ТЭС". This project is sometimes also referred to as the 370 MW CCGT Construction on Tashkent Thermal Power Plant (TPP).