Seven agreements, with a total declared funding of up to $545.5 million, were signed during the 8th Kyrgyz-Russian Economic Forum in Issyk-Kul.
The signing ceremony took place following the plenary session entitled ‘The Strategic Partnership between Kyrgyzstan and Russia: Priorities for 2030’. The agreements cover renewable energy, the processing industry, telecommunications, logistics, rail transport and financial cooperation.
The most significant of these was a trilateral agreement between the Russian-Kyrgyz Development Fund, the Eurasian Development Bank and AST Imperial LLC. It provides for the development and implementation of a project to build a solar power station in the Naryn region, worth $250 million.
The following documents were also signed:
- an investment agreement between the Ministry of Economy and Trade of Kyrgyzstan and NOOR LLC on the construction of an oil and fat processing plant. The facility will be capable of producing up to 400 tonnes of vegetable oil per day. The investment is estimated at up to $89 million;
- an agreement between the RKFR and Nova Wind KR LLC on financing the construction of a wind farm with a capacity of up to 100 MW in the Issyk-Kul Region. The project cost could amount to up to $126 million;
- an agreement between the RKFR and VimpelCom, represented by MVNO BKT LLP, on the establishment and launch of a virtual mobile network operator in Kyrgyzstan. Up to $4.5 million is planned to be allocated to the project;
- an agreement between the RKFR and ‘Multifunctional Logistics Park “Kholodils”’ LLP on the construction of a logistics complex worth up to $20 million;
- a framework agreement between the RFSC and the EABR to provide the fund with a revolving credit line equivalent to $50 million;
- an agreement between the RFSC and the state-owned enterprise ‘National Company “Kyrgyz Temir Zholu”’ on the implementation of a project to equip a railway wheel set repair facility. The project will cost up to $6 million.
Thus, almost half of the total announced investment is accounted for by the solar power station in the Naryn Region.
