The report said quoting Calik Holding that its energy subsidiary Calik Enerji has signed a contract with Uzbekenergo state joint-stock company to construct the plant.

The new power plant that will have a generating capacity of 472 megawatts will be constructed in Navoi Industry Region, which is 500 kilometers away from capital Tashkent. Construction, which will start in October is expected to be completed in three years.

Calik Holding said Calik Enerji has signed an agreement with Initec Energia for an investment of 336 million euros for the deal.

Under the agreement, Calik Enerji will buy all the equipment, transport it, construct the buildings, assemble the equipment, make the required tests and put the plant into use.

Initec Energia will be responsible from engineering and purchase and delivery of gas and steam turbines and other ancillary equipment. It will also provide supervisory services for assembly of the turbines, which will be purchased from Mitsubishi.

As earlier UzDaily.com reported, Uzbekistan President Islam Karimov signed a decree on creation of Navoi free industrial and economic zone in December 2008. The zone will function for 30 years. Special customs, currency and tax regimes will act during this period.