"Cost of small NPP in Jizzakh will not exceed $2 billion" – Akhmedkhodjaev

In an interview with the Alter Ego project, Akhmedkhodjaev also addressed why the final price of the small NPP project has not been announced yet.

Akhmedkhodjaev emphasized that the construction of the NPP is being carried out under the Open Book concept, which allows for monitoring the expenses related to the production of equipment by the general contractor.

Using Chinese turbines will help reduce the project costs. Electrical equipment produced under European licenses will be purchased from China, which is cheaper than buying directly from Europe.

"The cost reduction we have achieved so far is approximately $300 million. This is not a small amount in relation to the total value," said the UzAtom head.

According to Akhmedkhodjaev, the cost of the small NPP will be less than $2 billion.

"This is the targeted figure we are striving for. I don't want to talk about the exact number, because we are continuously working on it," he said.

The director of the agency also specifically mentioned the issue of financing the project, noting that most of the funds will be raised from abroad.

"I will explain how the system is organized. Since this is an international-scale project, we will purchase some equipment from China. We will raise funds under preferential conditions from China. Moreover, there are investment companies that are interested in the project and ready to invest, but they will not be part of the plant's ownership. They will be profit recipients. In general, the scheme is very complex. In fact, the state budget has also been considered, but it is a very small amount. Primarily, foreign funds will be attracted. We are collecting funds from various sources, looking for money and loans," said Akhmedkhodjaev.

He also added that the use of Russian loans is not planned for the project.

"Considering geopolitical processes, we are not considering Russian funds. Therefore, we are forming a financial group that will allow us to effectively implement the project and make timely investments. There is indeed a very complex financial scheme. We want to minimize the use of the state budget and create minimal pressure on external debt. State guarantees are planned to be used," said the UzAtom director.