DUSHANBE, April 15, 2014, Asia-Plus — 150 million somoni (equivalent to more than 30 million U.S. dollars) have been spent over the first three months of this year for construction of the Roghun hydroelectric power plant (HPP), which is twice as much compared to the same period last year, according to the Agency for Statistics under the President of Tajikistan.
In January-March 2013, 78 million somoni were spent for implementation of the Roghun hydroelectricity project.
The Ministry of Finance notes that more than 300 million somoni will be earmarked for the Roghun project in the first half-year of 2014.
We will recall that Tajikistan founded Open Joint-Stock Company (OJSC) NBO Roghun with an authorized capital of 116 million somoni for completing the construction of the Roghun HPP in April 2008 after it formally revoked a contract with Russia”s RusAl aluminum company for the construction of the Roghun HPP in August 2007. The Tajik government accused the Russian company of failing to fulfill the contract signed in 2004. Tajik authorities and RusAl became bogged down in the hydroelectric plant”s dam model and height, crucial factors in its capacity.
To raise funds to complete construction of the Roghun HPP the government started to sell shares in Roghun to people on January 6, 2010. Tajikistan has reportedly issued 6 billion somoni worth of 5 million Roghun shares.
According to the Ministry of Finance, 804.7 million somoni have raised from the sale of shares.
2.2 billion U.S. dollars are reportedly needed for completion of the construction of the Roghun hydroelectric power plant.
