The Government of Tajikistan has instructed the Ministry of Finance to allocate 77.5 million somonis (TJS) to replenish the authorized capital of the Open Joint-Stock Company (OJSC) NBO Roghun.
The government’s decree, which is posted on the Justice Ministry’s website for legal information, says the funds will be allocated from the Stabilization Fund for Economic Development, which, in tunr, receives them from the national budget.
Recall, the Government of Tajikistan in February this year ordered to channel 100 million somonis to replenish the OJSC NBP Roghun.
It is to be noted that OJSC NBO Roghun authorized capital is reviewed annually during an annual meeting of shareholders.
According to the OJSC NBO Roghun management, the authorized capital of OJSC NBO Roghun increased nearly 15 percent or 4.5 billion somonis in August 2021, reaching 36.06 billion somonis.
In November 2022, the Government instructed the Ministry of Finance to replenish the authorized capital of OJSC Roghun NBO with 200 million somonis from the SFED.
By government’s decree of February 2, 2023, the Ministry of Finance was instructed to replenish the authorized capital of OJSC Roghun NBO with 800 million somonis from the SFED.
In 2022, 3.2 billion somonis were allocated for construction of the Roghun hydropower plant.
In 2023, the country’s budget reportedly earmarked 2.1 billion somonis for construction of the Roghun hydropower plant.
Tajikistan founded OJSC NBO Roghun with an authorized capital of 116 million somonis 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.
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 somonis worth of 5 million Roghun shares.
They have reportedly sold little more than 1.8 million shares, while the remaining more than 3 million shares are kept at local banks.
Meanwhile, in a report released at a news conference in Dushanbe, the Minister of Energy and Water Resources Daler Juma revealed on February 1 that on average, US$1 billion is allocated annually to finance the construction of the Roghun hydroelectric power plant (HPP).
The minister noted that according to the latest estimates, US$6.2 billion are needed for completion of construction of the Roghun hydropower plant. According to him, this amount was determined by international consultants who were hired to evaluate the project. Mr. Juma expressed confidence that this is the final amount, with use of which the construction of the Roghun hydropower plant will be fully completed.
