RKDF to finance construction of HPP in Naryn and cement plant in Chui

Bishkek, Feb. 24, 2023. / Kabar/. The Board of the Russian-Kyrgyz Development Fund (RKDF) has approved strategic projects totaling USD 89 million.

A meeting of the Council of the RKDF was held in Moscow on February 20, the Fund reported.

It made decisions that determine the further development of the Fund, and also approved the financing of two strategically important projects for Kyrgyzstan for a total of USD 89 million. Their total cost exceeds USD 250 million.

The first project involves the construction of the Kulanak HPP with a capacity of 100 megawatts in the Naryn region. RKDF will provide USD 44 million for its implementation. The launch of the HPP will help ensure the energy security of the Kyrgyz Republic and reduce the energy shortage in the country by 18%, as well as create 770 jobs during the construction period and 97 after the facility is put into operation.

As part of the second project, the Fund will allocate USD 45 million for the construction of a new modern cement plant in the Chui region. Its capacity will be 1.5 million tons of cement per year, which will replace imports worth more than USD 47 million per year. The project provides for the creation of 450 jobs.

It should be noted that for the first time in the entire period of activity, the RKDF finances such large strategic projects, and today these amounts have become a record for the Fund.