Tashkent, Uzbekistan (UzDaily.com) -- On 9 November 2023, a signing ceremony of the Investment Agreement took place between the Minister of Investment, Industry and Trade of the Republic of Uzbekistan Laziz Kudratov and the Chairman of the Board of AKSA Enerji Cemil Kazanci.

According to the document, AKSA Enerji will invest US$250 million in the construction of a 400 MW gas piston power plant in Nishan district of Kashkadarya region on a public-private partnership basis.

The company will design, finance, construct and operate the power plant throughout the entire project implementation period of 25 years.

The start of construction work is scheduled for December 2023 with the commissioning of the power plant at the end of 2024.

As part of the visit of the Turkish company, an Electricity Purchase Agreement was also signed between JSC National Electric Networks of Uzbekistan and AKSA Enerji, according to which the Uzbek side will carry out a guaranteed purchase of electricity for 25 years from the Turkish investor.

Aksa Energy is part of Kazanci Holding, which was founded in 1960. The holding develops projects not only in the energy sector, but also in agriculture and tourism. The company is also building power plants in a number of countries: Turkey, Ghana, Madagascar, Mali, Congo and Uzbekistan.