DUSHANBE, May 3, Asia-Plus — Our goal is to introduce an experience of corporate financing and banking in Tajikistan and develop all types of investment projects in order to promote development of the country’s potentials, Mr. Michael Vilberg Pedersen, Executive Director of SomonCapital for Corporate Finance & Business Development, said in an interview with Asia-Plus, commenting on the project for establishment of the chemical-metallurgical corporation in Tajikistan.
Firs of all, it can be a serious step forward in developing the mining sector in the country, according to him.
“We will provide Tajik Aluminum Company (TALCO) with domestic raw materials,” said the executive director. “Tajik geologists have discovered large deposits of nepheline syenite, which is necessary for producing alumina – the main component of bauxite, the principle ore of aluminum.”
Processing of nepheline at Tajikkhimprom (the Yovon chemical plant) will allow providing TALCO with some 1 million tons of alumina per year that will be enough for Tajik aluminum smelter’s working in full capacity, Mr. Pedersen said.
On SomonCapital, he said the company was established last year by Tajik and Kazakh partners.
Commenting on corporate financing in Tajikistan, Mr. Pedersen said that Tajikistan is still a blank space on the financial map of the world in terms of corporate financing and “it is necessary to change this situation.”
“To promote the project we need loans, and therefore, we should convince international financial institutions of profitability of the project and efficiency of investing in it,” the executive director said, adding that the services of skilled international experts are being enlisted for studying the project.
According to him, experts will study the project during some 8 weeks and then conduct the preliminary and detailed feasibility studies. The detailed feasibility study is expected to be finished by the end of 2009 and three years after that, a practical implementation of the project will start.
Mr. Michael Vilberg Pedersen has over 10 years experience in emerging markets, particularly in CEE and CIS, having lived in 4 locations in 3 CIS countries. Prior to joining SomonCapital, Mr. Pedersen was Consul of Denmark and Trade Commissioner to Kazakhstan.
SomonCapital is an independent investment bank, which provides a wide spectrum of financial services, focusing on in-house capabilities in investment banking and external partners to supply the full palette of services. It draws on strategic partners, who have successful experience with investment banking transactions in Kazakhstan, Uzbekistan, Russia, Kyrgyzstan and Belarus and further abroad.
Its mission is to offer international standard corporate finance advisory services and to unlock the potential of Tajikistan through supporting local public and private entities with world-class corporate finance advisory service, developing and maintaining long-term relationships with private and public sector leaders and providing informed, trustworthy access to Tajik investment opportunities and the broader emerging market investment community.
