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Tajikistan's government to engage in direct talks with investors for Rogun HPP

Tajikistan Materials 15 August 2023 22:00 (UTC +04:00)
Umar Abakirov
Umar Abakirov
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DUSHANBE, Tajikistan, August 15. The Government of Tajikistan is set to initiate direct negotiations with potential investors to secure additional financing for the completion of the Rogun Hydroelectric Power Plant (HPP) by the end of this year, Minister of Finance of Tajikistan Fayziddin Kakhkhorzoda said during the press conference, Trend reports.

"Currently, there are 30 international experts working on-site, evaluating its current state," he noted.

The minister explained that a comprehensive report outlining all aspects of the project is scheduled for release in September. He mentioned that after releasing the report, the Tajik side would initiate direct negotiations with potential investors.

Kakhkhorzoda emphasized that all development partners, including the World Bank (WB), which is overseeing the project's evaluation, will establish their positions after the release of the international experts' report.

Aside from the WB, the head of the Ministry of Finance considered the European Investment Bank (EIB), the Asian Development Bank (ADB), and others as potential investors for the project.

The minister recalled that agreements have already been reached for a concessional loan from the Asian Infrastructure Investment Bank (AIIB) amounting to $500 million. Furthermore, he mentioned that the Islamic Development Bank (IDB) intends to increase the financing for this project from the previously announced $150 million to $250 million.

Currently, the Rogun project is exclusively funded by government resources. The country's president revealed last week during a meeting with Rogun's builders that over 3 billion somoni ($272 million) had been allocated for its completion since the beginning of the year.

The installed capacity of Rogun HPP is planned at 3,600 MW. Following the plant's full commissioning, the annual electricity generation is expected to range from 13 to 17 billion kilowatt-hours. The completion of the power plant's construction is anticipated by 2033.

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