Project ID: 40148

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

Commitment amount

$ 258307182.74368593

Adjusted commitment amount

$ 258307182.74

Constant 2021 USD

Summary

Funding agency [Type]

China Development Bank (CDB) [State-owned Policy Bank]

Recipient

Uzbekistan

Sector

Energy (Code: 230)

Flow type

Loan

Level of public liability

Central government-guaranteed debt

Infrastructure

No

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

ODA-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2012-08-08

Actual start

2012-09-01

Actual complete

2016-01-19

Geography

Description

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.

Additional details

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).

Number of official sources

6

Number of total sources

15

Download the dataset

Details

Cofinanced

Yes

Cofinancing agencies [Type]

Japan International Cooperation Agency (JICA) [Government Agency]

SYNECTA a.s. [Private Sector]

Fund for Reconstruction and Development of Uzbekistan [State-owned Bank]

Joint-Stock Commercial Bank "Uzbek Industrial and Construction Bank" (JSCB Uzpromstroybank) (UzPSB) [State-owned Bank]

Direct receiving agencies [Type]

Uzbekenergo State Joint Stock Company (SJSC) [State-owned Company]

Implementing agencies [Type]

Uzbekyengilsanoat JSC [State-owned Company]

Guarantee provider [Type]

Government of Uzbekistan [Government Agency]

Loan Details

Maturity

15 years

Interest rate

4.287%

Grace period

3 years

Grant element (OECD Grant-Equiv)

16.5796%

Bilateral loan

Investment project loan