13:56 07.04.2016

Japan ready to provide $60 mln grant to modernize Centrenergo's turbines

2 min read
Japan ready to provide $60 mln grant to modernize Centrenergo's turbines

Japan is ready to provide a $60 million grant to modernize turbines of Trypilska and Zmiyivska thermal power plants (TPPs), part of state-run Centrenergo, Ukrainian Energy and Coal Industry Minister Volodymyr Demchyshyn told reporters in Tokyo on Thursday.

"We talked to the companies that had visited Trypilska and Zmiyivska plants, examined them thoroughly and are ready to provide a $60 million grant for modernization of turbines. This project was delayed, as Japan was not ready to pay taxes and VAT. Last week the government made the decision, which will allow importing the equipment without VAT payment," he said.

He said that Japan will provide goods worth some $60 million, which would be a great help to Centrenergo.

Demchyshyn said that the provision of the funds in the form of the grant is especially important. Centrenergo will be privatized soon, and any extra liabilities would affect the cost of the company.

He also said that Japanese companies showed their interest to the privatization both in the energy and infrastructure sectors.

He said that they are also ready to take part in tenders to build hydroelectric power plants. He reminded that Ukraine thanks to international financing of over $1 billion seeks to implement large projects at Kaniv and Kakhovka hydroelectric power plants in coming years.

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