DUSAHNBE, September 18, Asia-Plus — A meeting with participation of members of the Tajik government was held at president’s office today to discuss issues related to cement supplies to the site for construction of the Sangtuda-1 hydroelectric power station (HPS), Asia-Plus has learned from Rakhmetulla Alzhanov, the director general of open joint-stock company Sangtuda-1 HPS.
According to him, a working commission, comprising representatives from president’s office, ministry of economic development and trade, Tojikcement (Dushanbe cement plant) and the board of OJSC Sangtuda-1 HPS, to consider and settle disputes between the cement plant and OJSC Sangtuda-1 HPS. The commission is to submit an official opinion letter on this subject to the government within 10 days.
Besides, the commission is charged to study pricing of product supplied to the site for construction of the Sangtuda-1 station.
We will recall that Alzhanov Monday released a letter in response to a statement by top managers of Tojikcement, claiming that the Dushanbe cement plant is overpricing its product supplied to the site.
The letter, in particular, said that Tojikcement is the only producer of cement in Tajikistan, and therefore, when taking a decision on construction of the Sangtuda-1 power plant, the Tajik government has pledged to supply cement to the site for the power station from this plant.
In the letter, Alzhanov said, “Realizing hard financial situation at the Dushanbe cement plant the company has made prepayments in full volume.” Moreover, the company has funded the plant’s extension since November 2006, according to the letter. “Thus, in November 2006, we provided $3 million for purchasing equipment from China for shifting the plant form natural gas to coal; however, the equipment has not yet been introduced into operation,” said the letter, “In December 2006, Tojikcement applied to the company for a new $1 million loan, and it has not yet repaid it.”
OJSC Sangtuda-1 HPS has made prepayments for cement for the period until December 2007 in an amount of 41,426,508 somonis and provided a loan of 7,910,160 somonis under the separate agreement for clearing off Tojikcement’s debt to the Czech Republic, according to the letter. “Loaning Tojikcement, OJSC Sangtuda-1 HPS has not demanded loan interest, while the annual rate of loan interest on the financial market makes 30 percent, and therefore, the plant should supply cement at concerted prices.”
In the meantime, Rajabgul Haqnazarova, the deputy director general of Tojikcement (the Dushanbe cement plant), said, “The plant realizes cement to the Sangtuda-1 station at the rate of 278 somonis per one ton of Portlandcement and 280 somonis per one ton of sulfate-resistant cement, while the market prices of cement fluctuates from 850 to 1,200 somonis per one ton.” “In the beginning of this year already, the Ministry of Economic Development and Trade (MoEDT) set the cement prices at the rate of 382.50 somonis per one ton for the Portland cement and 402.90 somonis for the sulfate-resistant cement,” said the deputy director general. “However, meeting the Sangtuda-1 administration halfway, we have considerably lowered the prices.”
“As far as the mentioned loans are concerned, that amount has been provided not in form of loans but as prepayment for cement,” said Haqnazarova.
The Tojikcement official noted that the cement plant now works primarily for the OJSC Sangtuda-1 HPS, realizing its products at very low price. According to her, the plant is incurring serious losses and this makes them raise the cement prices. “We will dispute our point of view and ask the government to support our pricing policy,” Haqnazarova said.
