Ihlas Holding and PowerChina pursue strategic cooperation in Kyrgyzstan
Ahmet Mucahid Oren, Chairman of the Board of Ihlas Holding and Orta Asya Investment Holding, signed agreements for a strategically important hydroelectric power plant and a natural gas evolution power plant with a total capacity of 1,450 MW in Kyrgyzstan in the presence of President Recep Tayyip Erdogan and Kyrgyz President Sadyr Japarov. (Kamil Nadirli/Bishkek-IHA)
Türkiye‘s Ihlas Holding has swiftly initiated the first steps of implementing $7 billion worth of strategic energy projects signed in early November in Kyrgyzstan.
Orta Asya Investment Holding, a subsidiary of Ihlas Holding, signed an agreement with the Power Construction Corporation of China (commonly known as PowerChina), the world energy giant with an annual turnover of $96 billion, and SemArco Group, a key Kazakh energy player.
PowerChina is one of the world’s leading Energy Performance Certificate (EPC) contractors in the field of energy and infrastructure.
On Nov. 5, during the Organization of Turkic States (OTS) summit in Bishkek, Kyrgyzstan, Orta Asya Investment Holding sealed the deal on a natural gas cycle power plant and hydroelectric power plant with the Kyrgyz government.
The projects entail the construction of a 1,200-megawatt (MW) hydroelectric power plant in the Kazarman region and the construction and operation of a 250-MW capacity CHPP-2 natural gas combined-cycle power plant in Bishkek, valued at $300 million.
The agreement took place in the presence of President Recep Tayyip Erdogan and President Sadyr Japarov of Kyrgyzstan.
The latest strategic cooperation agreement signed in Bishkek on Nov. 30 aims to build a combined cycle natural gas power plant with a capacity of at least 250 MW on the TETS-2 land in Bishkek as its first stage.
Ihlas Holding’s international presence grows
Stating that the two power plant projects that will strengthen the energy infrastructure of Kyrgyzstan will contribute to both economic development and energy security, Ahmet Mucahid Oren, the chairman of the board of Directors of Ihlas Holding and Orta Asya Investment Holding, said: “We are happy to implement this project with reliable partners on a global scale such as PowerChina International Group Limited and SemArco LLP.”
“This cooperation will be a step that will make significant contributions to the energy and infrastructure sectors not only in Kyrgyzstan but also throughout the region. As Ihlas Holding, we continue to work for a stronger future with sustainable projects.”
The statement made by Ihlas Holding emphasized that cooperation with PowerChina and SemArco will solidify the presence of Ihlas Holding as a global actor.
Pointing out that this partnership will make a significant contribution to the completion of the project, the statement wrote, “We will continue to lead projects that are beneficial for society by moving our investments forward on both national and international platforms.”
“This project is a milestone not only in the energy sector but also for regional and global development goals.”
Current investments to pave way for new beginnings
Haluk Sur, the vice president of Orta Asya Investment Holding, stated, “Our main goal is to be one of the keys to economic development and welfare in the Turkic states in accordance with the vision of the Organization of Turkic States.”
“In order to serve this purpose, we signed agreements on two important projects in Kyrgyzstan. On November 5, Ahmet Mucahid Oren, Chairman of the Board of Directors of Ihlas Holding and Orta Asya Investment Holding, signed a contract with the Minister of Energy of Kyrgyzstan at a ceremony held with the participation of the Presidents of Türkiye and Kyrgyzstan.”
“One of these contracts is the CHPP-2 Natural Gas Cycle Power Plant with a capacity of over 250 MW. The other is an 1160-MW hydroelectric power plant system consisting of four separate dam systems.”
“Both are being built with the Build-Operate-Transfer model. We wanted to have strong partners with us during the construction process of these giant projects and we decided to cooperate with POwerChina, the world’s largest energy company.”
Sur further underlined, “In addition, we made an agreement with Semarco LLP, one of the largest companies in Kazakhstan.”
“This partnership will jointly handle the engineering, procurement and construction work and provide financial support for the project. This contract, which includes POwerChina and Semarco LLC on the one hand and Orta Asya Investment Holding, a subsidiary of Ihlas Holding, on the other, will pave the way forward for those gigantic investment projects signed by A. Mucahid Oren in Bishkek like on a highway.”
Partners with global projects, experience
PowerChina, among the global players in clean energy, thermal energy and infrastructure projects, has signed many projects across the globe.
These projects include the Pakistan HydroChina Dawood Wind Power Project, Laos Nam Ou River Gradual Dam Project, and the Vietnam Dau Tieng Solar Power Project.
Semarco, which has strong expertise in the natural gas, oil and infrastructure sectors, contributes to the trade in the region with the Kashagan Oil Field Marine Structures Project and the Aktau Port Project in the maritime field in Kazakhstan.
