The credit of the China Eximbank will be attracted within the credit of the Chinese government, issued to realize joint ventures of the Shanghai Cooperation Organization. The SCO, an inter-governmental organization founded in Shanghai in 2001, groups China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. Pakistan, India, Iran and Mongolia are observer nations.

The credit agreement can be signed in the first quarter of 2009. The project envisages construction of three electricity substations in Tashkent with voltage of 110 and 220 kilovolt and electricity switching point.

Uzbekenergo will also direct own resources to finance the project along with the credit of China Eximbank.

ABB of Switzerland signed contract with Uzbeknergo to realize the project with the cost of US$17.5 million. But the project was not realized as the financing issue was not solved.

Uzbekenergo developed a complex programme on development of electricity industry till 2010, which envisages realization of 10 projects with the cost of US$1.32 billion.