[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
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English
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New Business Relation
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Update Notification Flag
Hayır (No)
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Correction Notification Flag
Hayır (No)
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Date Of The Previous Notification About The Same Subject
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Hayır (No)
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Announcement Content
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Nature Of The Other Party With Which New Business Relation Will Start
Müşteri (Customer)
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Name Surname Or Company Title Of Customer Or Supplier
Milliy Elektr Tarmoqlari (National Electric Grid of Uzbekistan JSC
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If Exists Share Of Customer Or Supplier In Trade Receivables Or Debts On Latest Disclosed Statement of Financial Position Of Company
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Expected Starting Date O fNew Business Relation
01/06/2024
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If Exist Significant Provisions Of The Contract
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Impact Of New Business Relation On Company Activities
Positive
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Explanations
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Our company, Kontrolmatik Technology Energy and Engineering Inc., has signed a framework agreement with the National Electric Grid of Uzbekistan JSC, which is affiliated with the Ministry of Energy of Uzbekistan. This agreement includes the construction and financing of projects in two different regions in Tashkent: a 220 kV transformer station and a 34 km 220 kV transmission line, as well as a 500 kV transformer station and a 100 MWh grid-scale energy storage system project in Namangan. The total estimated cost of these projects is approximately 125 million USD.
Following the cooperation between Kontrolmatik and NEGU to access the financing package under this agreement, a turnkey construction contract will be signed. The timeline for the framework agreement is set between 2025 and 2029.
We present this development to the public and our stakeholders.
This disclosure is prepared in Turkish and English and in case of any contradiction between the two texts, the Turkish disclosure shall prevail.