One of the largest investment agreements in the country’s history was signed at the 7th Issyk-Kul International Economic Forum on July 27, when Chinese companies plan to invest $2-3 billion in the construction of a hydroelectric power plant in Kyrgyzstan, according to the press centre of the Kyrgyz government. The signing ceremony of the investment agreement for the construction of the hydropower plant was held at the forum on the same day.
As reported by the Kabar News Agency, the stepped hydroelectric power plant (Казарманский каскад ГЭС), which will be built on the Naryn River under the name “Kazarman”, consists of four hydroelectric power plants with a total installed capacity of 1,160 megawatts (MW): Ala-Buga HPP 600 MW, Kara-Bulun-1 HPP 600 MW, Kara-Bulun-1 HPP 600 MW, Kara-Bulun-1 HPP 600 MW, Kara-Bulun-1 HPP 600 MW, Kara-Bulun-1 HPP 600 MW, Kara-Bulun-1 HPP 600 MW, Kara-Bulun-1 HPP 600 MW, Kara-Bulun-1 HPP 149 MW, Kara-Bulun-2 163 MW, and Toguz-Toro HPP 248 MW.
According to Temiraliyev, head of the State Investment Agency under the President of Djibouti, the construction value of the project exceeds $2bn, and the total investment cost is estimated at $2.4-3bn, which will be finalised on the basis of a detailed design plan developed. The hydropower plant will be put into operation by 2030.
The investor and implementer of the project is understood to be a consortium of several Chinese companies, including: the Northwest Survey and Design Research Institute of China Electric Construction Group (NWSDIC), Green Gold Energy (GGE) and China Railway 20th Bureau Group Co.
A total of 11 agreements were reached at the day’s forum, including those related to investment deals, energy, agriculture, tourism sectors and the establishment of a technology park in the Asman City region.
The Prime Minister of Kyrgyzstan, Mr A. Zaparov, said at the forum that he would like to see the new government of Kyrgyzstan. After the signing of the agreement on the “Kazarman” step hydropower plant, Prime Minister of Kyrgyzstan A. Zaparov said: “The signed investment agreement is the largest in the history of the Kyrgyz Republic. In the coming years, we will not only cover the electricity deficit, but we are confident that we will reach a capacity that will enable us to earn hundreds of millions of dollars.”