On October 10th, Uzbekhydroenergo JSC, an Uzbekistan-based water and energy company, signed a loan agreement with China CITIC Bank and Altyn Bank. The agreement pertains to the construction of three hydropower stations—Kugay, Kugay No. 2, and Beshkurgan—along the Big Andijan Canal in the Namangan region of Uzbekistan. Leadership from Genertec CNTIC attended and witnessed the signing ceremony.
Prior to the ceremony, representatives from all parties engaged in in-depth discussions aimed at deepening cooperation. This project marks one of the first non-sovereign commercial loans from China to Uzbekistan and represents the inaugural commercial loan project by the Beijing branch of China CITIC Bank and Altyn Bank in Uzbekistan. The signing of this loan agreement provides robust financial support for the construction of the hydropower stations. All parties involved view this collaboration as a starting point for building a more closely integrated and efficient cooperative platform, promoting the implementation of more high-quality projects, and achieving mutual benefits and win-win development goals.
Attending the signing ceremony were Deputy Chairman of Uzbekhydroenergo JSC, Deputy Governor of the Beijing branch of China CITIC Bank, Chief Financial Officer of Altyn Bank, and Customer Manager from Sinosure.