Tajikistan continues to raise funds for the completion of the Rogun Dam
The government of Tajikistan is negotiating to raise funds for the implementation of the Rogun project, the country’s Finance Minister Fayziddin Kahhorzoda said at a press conference in Dushanbe on February 14.
In particular, he noted, such work is underway with the Italian government, the European Investment Bank, the Abu Dhabi Development Fund, the Asian Development Bank and other potential financial donors.
According to the minister, agreements have already been signed to finance the completion of the Rogun with some international donors and agencies totaling $812 million, of which $462 million are loans and $350 million are grants.
Kakhhorzoda noted that all attracted loans are highly profitable and long–term – from 25 to 30 years.
The Minister expressed confidence that after the implementation of the Rogun project, these funds will be returned to creditors on time.
Recall, in the last message to the Parliament, the President of Tajikistan Emomali Rahmon said that the government is taking constant measures using all sources to finance this important strategic facility in a timely manner.
“In this context, effective cooperation is being carried out with a number of international financial organizations and development partners to attract preferential funds in the amount of 33 billion somoni, or $3 billion, including 12.5 billion somoni grants, or $1 billion 150 million,” the message says.
It emphasizes that by the end of 2024, agreements have been signed with six organizations in the total amount of 10 billion somoni (about $ 1 billion), including 3.8 billion somoni grants, and in 2025 they will begin investing.
The message says that over the past two years, more than 9 billion somoni (about $ 830 million) have been allocated for the completion of the Rogun at the expense of the state budget.
In general, more than 40 billion somoni (about $ 4 billion) was allocated for the completion of Rogun, including through the sale of shares of OJSC Rogun Dam (890 million somoni), Eurobonds ($500 million), and the rest – at the expense of the state budget.
For the complete completion of the Rogun Dam project for the period up to 2035, $6.4 billion is needed. This is stated in the Justification of Tajikistan’s sovereign rating by the international rating agency Standard & Poor’s Global Ratings.
Earlier, the president said that the next hydroelectric unit of the Rogun Dam is planned to be commissioned in 2025. The first two units of the station, which are currently operating at low power, were commissioned in 2018 and 2019.
In general, 6 units with a capacity of 600 MW each will be installed in the engine room of the station. The launch of the last unit is expected in 2029. With an installed capacity of 3,600 MW, the Rogun Dam is expected to become the largest hydroelectric power station in Central Asia. After full commissioning, the annual volume of electricity generation will be from 13 to 17 billion kWh, which is equivalent to 65-85% of the annual electricity generation in the country.
Pairav Chorshanbiyev (Asia-Plus)
