DUSHANBE, July 30, 2012, Asia-Plus – A statement released by OJSC Sangtudinskaya GES-1 on July 30 says that operation of the Sangtuda-1 hydroelectric power plant (HPP) may be paralyzed due to nonpayment by Barqi Tojik power holding of its debts.
Barqi Tojik now owes some US$58 million to Sangtudinskaya GES-1, the statement says, noting that the Sangtuda-1 HPP also “does not receive payments for generation of electricity in a routine regime – daily generation of 3.5 million kWh of electricity in summer period and daily generation of more than 7 million kWh of electricity in winter months.”
Because of such a situation, the Sangtudinskaya GES-1 management has repeatedly applied to banks for loans and the company now owes more than 26 million U.S. dollars to banks alone, according to the statement.
Non-fulfillment by Barqi Tojik of its obligations has reportedly led to negative consequences. Thus, the company now cannot carry out works to ensure regular and safe operation of the Sangtuda-1 HPP. To-date, tax debts of OJSC Sangtudinskaya GES-1 have exceeded 6 million U.S. dollars ad its debts to contracting agencies and other contractors now amount to some 21.5 million U.S. dollars.
The statement notes that OJSC Sangtudinskaya GES-1 has not paid salaries to its employees for more than six months that causes social tension among the personnel.
