An Agreement to Financing Norak HPP Reconstruction Project Signed in Dushanbe

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Dushanbe hosted the signing ceremony for the Agreement on Financing the Norak HPP Reconstruction Project, Phase II between Tajikistan and the International Development Association, as well as the Project Agreement between the International Development Association and OJSHC Barki Tojik.

The Agreement on Financing by the side of the government was signed by the Minister of Finance Fayziddin Kakhhorzoda, the Project Agreement was signed by the Chairman of OJSHC Barki Tojik Mahmadumar Asozoda, as well as by the International Development Association Ozan Sevimli — the Permanent Representative of the World Bank in Tajikistan, in the amount of $65.0 million (grant amount).

The total project implementation period is 10 years. Taking into account the availability of funds, the project will be implemented in two stages.

The first stage of the project consists of 3 parts — replacement of 3 units and their auxiliary equipment, replacement of autotransformers (6 single-phase autotransformers 220/500 kV) and ensuring barrier safety, the implementation period of which is provided for 5 years (2019-2023).

In total, $326.9 million has been attracted to finance the first stage of the project, of which $169.1 million is a loan and $57.8 million is a grant from the World Bank, $60 million is a loan from the Asian Infrastructure Investment Bank, and $40 million is loan from the Eurasian Development Bank.

The second stage of the project includes the reconstruction of the remaining 6 units and the overhaul of the water intake parts of the hydraulic turbines, replacement of high voltage transformers, replacement of the 6 kV switchgear in the engine room and the bearing mechanisms with a capacity of 360 tons, other necessary auxiliary equipment. This will be being implemented within five years (until 2028).

To date, grants in the amount of $50.0 million have been provided for this stage, and a financial agreement has been signed.

Source: National information agency of Tajikistan