Financial backing from the Development Bank of Kazakhstan will assist in the construction of a new 25 MW hydropower project along the country’s Turgusun River.
The bank announced this week that it will provide about US$16 million of the Turgusun plant’s projected $37.1 million price tag via a 12-year loan program.
The project is also being financed by a state industrial development initiative, which includes Turgusun as a means of addressing an energy shortfall in the East Kazakhstan region.
The China International Water and Electric Corp. has been named general contractor and equipment supplier for the plant. Work is expected to begin this year and completed by the end of 2018.
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