The construction of the Kulanak hydroelectric power plant (HPP) on Kyrgyzstan's Naryn River will be completed by 2024-2025, with the amount of investment in the project exceeding $118 million, the deputy director of the Kyrgyz investment and development agency, Nuradil Bayasov, told Sputnik
SOCHI (Pakistan Point News / Sputnik - 09th June, 2023) The construction of the Kulanak hydroelectric power plant (HPP) on Kyrgyzstan's Naryn River will be completed by 2024-2025, with the amount of investment in the project exceeding $118 million, the deputy director of the Kyrgyz investment and development agency, Nuradil Bayasov, told Sputnik.
"We are working in the area of financing large projects in the construction of hydroelectric power plants. In addition to the Russian-Kyrgyz Development Fund, the Eurasian Development Bank (EDB) is also a partner in the implementation of this project, it is called the Kulanak HPP Cascade, the investment amounts to $118 million... It is under construction... and is expected to be completed and put into operation in 2024-25," Bayasov told Sputnik on the sidelines of the Eurasian Intergovernmental Council in the Russian city of Sochi.
He also said that an industrialization map has already been developed, which includes about 150 projects in 25 economic sectors worth more than $270 billion.
The EDB is currently running the Central Asian Water and Energy Complex project, which is based on research and projections to work out the most effective ways to develop the renewable energy sector.
Founded in January 2006 by Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan, the EDB is an international financial institution established to promote economic growth, strengthen ties among member countries and support integration processes in Eurasia. The EDB's charter capital is $7 billion.
