A Chinese energy company is considering a $300 million investment in Kyrgyzstan's northern Chui Province -- an amount rivaling the $300 million soft loan Russia offered to the cash-strapped Central Asian nation in 2009.
The China Guodian Corporation, one of China's largest electricity producers, engages in "the development, financing, construction and operation of facilities for electricity generation. A representative office for the company has opened in Bishkek and [there are] plans to invest money in the Kyrgyz hydropower sector. In addition, China is interested in developing renewable energy sources," the Chui regional administration said.
The Central Agency for Development, Investment and Innovation, headed by President Kurmanbek Bakiyev's son, Maxim Bakiyev, and the Ministry of Energy are negotiating the deal with Guodian, the news agency 24.kg reported on April 1.
Russia's $300 million soft loan to Bishkek is part of a $2.15 billion assistance package that would include investments in energy projects.