DUSHANBE, November 24, 2014, Asia-Plus -- Tajikistan is not able to complete construction of the Roghun hydroelectric power plant (HPP) on its own, and therefore, it should get CIS nations involved in construction of this hydropower plant, the member of the Majlisi Namoyandagon (Tajikistan’s lower house of parliament) Committee on Energy, Industry and Construction, Shodi Shabdolov, who is also leader of the Communist Party of Tajikistan (CPT), told Asia-Plus in an interview.

According to him, there ought to review the charter of the Open Joint-Stock Company (OJSC) NBO Roghun, which is engaged in completion of construction of the Roghun HPP so that Russia, Kazakhstan and other CIS nations could participate in the Roghun hydroelectricity project.

“The priority should be given to the CIS nations and only deficient amount could be attracted from other countries (Iran, Pakistan, China and so forth) and international financial institutions,” Shabdolov noted.

At the same time, Shabdolov categorically opposes attraction of external borrowings for construction of the Roghun HPP, because “Tajikistan is not able to repay debts.”    

“But we are forced to take loans for purchase of some modern equipment that are produced only in some Western countries,” the parliamentarian added.   

We will recall that the national budget for 2015 that was approved by the Majlisi Namoyandagon on November 19 projects expenditure of 1.6 billion somoni for construction for the Roghun HPP. 

Tajikistan founded Open Joint-Stock Company (OJSC) NBO Roghun with an authorized capital of 116 million somoni for completing the construction of the Roghun hydroelectric power plant (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.  The Tajik government accused the Russian company of failing to fulfill the contract signed in 2004.  Tajik authorities and RusAl became bogged down in the hydroelectric plant''s dam model and height, crucial factors in its capacity.

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 somoni worth of 5 million Roghun shares.

According to the Ministry of Finance, 804.7 million somoni have been raised from the sale of shares.

2.2 billion U.S. dollars are reportedly needed for completion of the construction of the Roghun hydroelectric power plant.

By president’s decree issued in February this year the construction of the Roghun hydroelectric power plant is exempted from paying taxes.  The president, in particular, decrees to exempt the Roghun HPP construction owner and general contractor from paying value added tax (VAT), road tax, wealth tax, profit tax, transport tax, social tax for foreign nationals engaged in construction of the plant, and state duties for registration of emission prospects of non-state securities during the period of constriction of the plant.