Barqi Tojik power holding (a national integrated power company of Tajikistan) now owes 729 million somoni to Open Joint-Stock Company (OJSC) Sangtudinskaya GES-1 that operates the Sangtuda-1 hydroelectric power plant (HPP).
According to press reels issued by OJSC Sangtudinskaya GES-1, Barqi Tojik last year paid only for 62.3 percent (245 million somoni) of electricity supplied by to the Sungtuda-1 HPP to the Tajik power holding.
Currently, Barqi Tojik is the only buyer of electricity generated by the Sangtuda-1 HPP.
Recall, Tajik and Russian presidents officially unveiled the fourth and last unit of the Sangtuda-1 HPP on July 31, 2009.
The construction of the Sangtuda-1 hydropower plant located some 110 kilometers southeast of Dushanbe began in the late 1980s. By the early 1990s, only 20% of the construction work had been completed, and further construction was suspended due to a civil war that broke out in Tajikistan in the early 1990s. The talks between Russia and Tajikistan on completing the construction of the Sangtuda-1 HPP began in 2003 and in 2004 the parties signed an inter-governmental agreement.
Russian-Tajik OJSC Sangtudinskaya GES-1 was established to complete the construction of the Santuda-1 power plant. Russia’s Inter RAO YeES and the Ministry of Energy and Industries of Tajikistan signed an agreement on the establishment of the company in Dushanbe on February 16, 2005.
Russia owns 75% percent of the shares minus one share and Tajikistan assumes the 25% ownership interest plus one share in Sangtudinskaya GES-1.
As of January 1, 2017, Barqi Tojik’s total debts amounted to more than 13.7 billion somoni, including the sum owed to the Sangtuda-1 HPP, 458 million somoni owed to the Sangtuda-2 HPP, 1.346 billion somoni owed to Open Joint-Stock Company (OJSC) Orienbank, 194 million somoni owed to the Tax Committee, 11 billion somoni owed to the Ministry of Finance, etc.
