Radio Liberty’s Tajik Service says the Tajik Government has exempted China’s Xinjiang Tebian Electric Apparatus Stock Co. Ltd (TBEA) from paying value added tax (VAT) and customs duties on equipment and technology being imported into the country for development of the Kumarghi Bolo (Upper Kumargh) and Eastern Duoba gold mines.
A copy of document obtained by RFE/RL’s Tajik Service lists 615 types of technical equipment that TBEA will be able to import without paying VAT and customs duties. The document does not specify the cost of the imported equipment and technology, and therefore, it is unclear how much the government stands to forfeit, RFE/RL’s Tajik Service says.
Recall, the licenses for development of the Kumarghi Bolo and Eastern Duoba gold mines have been offered to TBEA in exchange for construction of a new combined heat and power (CHP) plant in Dushanbe. Under the reached agreements, TBEA has the right to develop the deposits until it recovers expenses made on construction of the Dushanbe-2 CHP plant. After that, new agreements on development of these deposits will be concluded with the company under other conditions. .
According to TBEA’s preliminary estimates, a total area of both deposits is 15.4 square kilometers and they contain proven gold reserves of 51.7 tons, but possibly up to around 117 tons in total.
Kumarghi Bolo and Eastern Duoba are not the only deposits in Tajikistan given to Chinese investors. According to RFE/RL, more than 80 percent of gold in Tajikistan is extracted by Tajik-Chinese joint ventures.
Xinjiang Tebian Electric Apparatus Stock Co. Ltd (TBEA) is one of the largest electrical manufacturing groups in China and the first floated stock company in Chinese A Shore Market in transmission industry of China after merging the former Hengyang Transformer Works (a large-size stated company founded in 1958 and located in Hunan province, China), and well-known for manufacturing all kinds of high voltage power transmission, transformation and distribution equipment. Under the administration of TBEA, there are 10 large backbone factories, 5 research institutes, 6 business entities and 8 participated enterprises.
