The Government of Tajikistan has instructed the Ministry of Finance to allocate 60 million somoni (over $5.5 million) to increase the charter capital of OJSC Rogun HPP.
The relevant resolution, adopted by the government on April 8 this year, was published today on the legal information portal of the country's Ministry of Justice.
The document specifies that the funds are allocated from the Stabilization Fund for Economic Development. The Fund, in turn, receives these funds from dividends of state-owned shares that have entered the republican budget.
The management of OJSC Rogun HPP undertakes to ensure the targeted use of the allocated funds and to submit a report on the expenditures to the Ministry of Finance.
It is worth noting that contributions to the Stabilization Fund for Economic Development are made from the overfulfillment of the revenue part of the republican and local budgets. The state budget for 2024 stipulates that 25% of such funds are directed to the Fund.
The funds from this Fund are usually allocated for the development of the fuel and energy sector, ensuring food security in the republic, developing social sectors, and timely servicing of the state external debt.
Earlier, in February this year, the Minister of Finance of the country, Fayziddin Kahhorzoda, informed that the government plans to allocate 5 billion somoni ($456 million) for the financing of the Rogun project within the year.
He noted that 2.2 billion somoni is expected to be allocated through attracting external financing, while the remaining part will come from internal sources.
The Minister recalled that last year they planned to allocate 2.5 billion from the budget, however, according to him, opportunities arose to increase this amount to 5.2 billion somoni.
At the beginning of this year, the Ministry of Energy reported that $1 billion annually is needed for the completion of the Rogun HPP, and in total, $6.2 billion will be required for the full implementation of the project.
According to the government's estimates, since 2008, when the implementation of the Rogun project was resumed, more than 40 billion somoni has been allocated for the completion of the station.
Background:
The Rogun HPP will become the largest hydroelectric power station in Central Asia, with an installed capacity of 3600 MW. The annual electricity generation volume after the station is fully operational will range from 13 to 17 billion kilowatt-hours. This represents approximately 65%-85% of the annual electricity generation by all operating capacities in the republic.
Overall, six units are planned to be installed in the station's turbine hall, each with a project capacity of 600 MW. The launch of the last unit of the station is scheduled for 2029.
The construction of the station is divided into separate lots: LOT 1 - electromechanical equipment, LOT 2 - the dam of the power station, LOT 3 - right-bank structures, and LOT 4 - left-bank structures. It is expected that the construction of the station will be fully completed by 2033.
