Tashkent, Uzbekistan (UzDaily.com) -- The Japan International Cooperation Agency (JICA) will finance the construction of a third combined-cycle plant at the Navoi Thermal Power Plant (Navoi TPP).

The Government of Uzbekistan adopted a resolution “On priority measures for the implementation of the investment project “Construction of a 650 MW combined cycle gas turbine unit at the Navoi thermal power plant”.

According to the document, JICA will allocate a loan in the amount of 128.24 billion Japanese yen (about US$1.2 billion) for the implementation of this project.

Uzbekistan and JICA signed an agreement on the provision of a loan for 30 years with a 10-year grace period at the following annual interest rates:

for consulting services - 0.01%;

for the construction of a combined cycle plant - 0.5%.

Uzbekistan will conclude a direct agreement with the Japanese company Tokyo Electric Power Services CO., Ltd for the provision of consulting services on organizing the selection of a general contractor, including the preparation of tender documents. The amount of the contract is 589 million yen.