The issue of repayment of the debt of Barqi Tojik power holding (a national integrated power company of Tajikistan) to Open Joint-Stock Company (OJSC) Sangtudinskaya GES-1, which operates the Sangtuda-1 hydroelectric power plant (HPP), was discussed today at a meeting of Tajik Deputy Prime Minister, Azim Ibrohim, with senior representatives of OJSK Sangtudinskaya GES-1, a source in the Tajik government told Asia-Plus in an interview.
The meeting participants also discussed the process of implementation of the provisions of the protocol of the 14th session of the Tajik-Russian commission for trade and economic cooperation as well as the process of coordination of a financial-economic model of return of investments and efficient use of the profit earned form attraction of investments and finding of new external markets for distribution of electricity, the source added.
Meanwhile, Barqi Tojik now owes 876 million somoni to OJSC Sangtudinskaya GES-1.
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.
The Sangtuda-1 HPP was officially commissioned on July 31, 2009. The plant now reportedly provides around 15% of Tajikistan’s electricity output.
