The company, via a press statement, informed that its energy subsidiary Calik Enerji has entered into a contract with Uzbekenergo, a Uzbek electricity production and distribution public firm, to build the power plant.

The new gas-based power plant is expected to have a power generation capacity of 472MW. The power plant would be built in Navoi Industry Region, which is 500 kilometers away from capital Tashkent. The construction work of the plant is expected to commence in October 2009 and scheduled to be completed in three years.

Calik Enerji has signed an agreement with Initec Energia for an investment of EUR336m for the deal. According to the agreement, Calik Enerji would purchase all the equipment, transport it, construct the buildings, assemble the equipment, make the required tests and put the plant into use.

Initec Energia would be responsible for engineering and purchase and delivery of gas and steam turbines and other ancillary equipment. Initec Energia would also provide supervisory services for assembly of the turbines, which will be purchased from Mitsubishi.