(Yicai Global) Dec. 13 -- HNAC Technology has secured a technological transformation service contact for three Uzbek hydropower stations with a total contract value of about USD22.4 million.

The project will raise the company's profile in the water resources and hydropower engineering market in Central Asia, HNAC said in a statement yesterday.

Hunan province-based HNAC's shares [SHE:300490] closed up 2.35 percent at CNY10.91 (USD1.55) this afternoon on the news after going as high as CNY11.15.

HNAC has penned the deal with the projects general contractor China National Technical Import & Export, per the statement. The three power stations, located in Uzbekistan's Tashkent, Chichi and Samarkand districts, are slated to finish up within two years after the contract takes effect. Payment, though denominated in US dollars, is to be in Chinese yuan.

The statement offered no further details.

HNAC provides core software and hardware products for industrial customers in the fields of water resources, hydropower and intelligent power distribution. The company holds the greatest market share in power station and pumping station's automation control equipment in China, according to its website.

Editor: Ben Armour