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Tajikistan and the WB Discuss the Future of Rogun HPP

Wednesday 3 April 2019

DUSHANBE (Avesta news agency) — The World Bank (WB) and the National Bank of Tajikistan (NBT) discussed issues related to the implementation of the national development strategy and the preparation of a preliminary analytical calculation of the consequences of the macro-budget investment of the Rogun hydropower project.

During the meeting, representatives of the NBT and the WB delegation led by Mrs. Gohar Gyuluman discussed the progress of the Rogun hydroelectric power plant project, the project financing plan, the importance of the issuance of Eurobonds in the project, the CASA-1000 project implementation process, energy reform and cooperation with international financial institutions.

The first vice-president of the NBT, Jamoliddin Nuraliev, stressed the strategic importance of the Rogun hydroelectric project and its effectiveness for Tajikistan and the countries of the region. In particular, he called on the World Bank to help attract investment for the further implementation of the project, as it is of regional importance and will create favourable conditions for access to cheap electricity.

World Bank representatives discussed the possibility of attracting foreign investment in the Rogun project, prospects for electricity exports to the region and the restructuring of the national energy group Barki Tajik (برق تاجیک).

It should be recalled that in 2017, the Tajik authorities decided to issue $1 bln worth of securities to complete the construction of the Rogun hydroelectric power plant (HPP), during which $500 mln worth of bonds were put up for sale on world markets.

Thus, since the construction of the Rogun hydroelectric power plant began, 24 bln somoni have been raised from all sources of financing, or 4.7 bln somoni in 2018 alone. In 2019, nearly 4 bln somoni are planned to be allocated for these purposes.

Earlier, it was reported that the Government of Tajikistan in the summer of 2017 had signed an agreement with the Italian company Salini Impregilo concerning the completion of the Rogun hydroelectric plant. According to the Tajik authorities, the amount of the agreement is $3.9 bln, of which only $1.95 bln is needed to build the reservoir dam.

The Rogun hydroelectric power plant, the ninth in a row of hydroelectric power plants on the Vakhsh River, is located 110 km from Dushanbe. According to the project, the HPP includes 6 units with a capacity of 600 MW each.

The height of the dam will be 335 m, the highest in the world (in its type). Rogun HPP, with a production capacity of 3.6 GW and more than 17 bln kWh/year is the largest in the region.

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