Kyrgyzstan owes Russia more than $42 million for the Upper Naryn HPP cascade and Kambarata-1, Director General of Electric Stations JSC Taalaibek Tolubaev reported.
According to him, Kyrgyzstan is to return, according to various estimates, $37-38 million for Upper Naryn HPP and $5.2 million for the developed feasibility study for Kambarata-1.
Currently, the power engineers are looking for sources to repay the debt. There are no potential investors for the projects. “Many show interest, but there is no one who would agree to sign the contract tomorrow”, Taalaibek Tolubaev said.
The President of Kyrgyzstan instructed the government to find investors for the construction of Upper Naryn HPP cascade when Kyrgyzstan finally terminated the agreement with Russia on the project.
Electric Stations JSC intends to conduct an independent international audit to estimate the costs of the Russian side during the agreement period. Only then Kyrgyzstan will compensate them. (24.kg/Business World Magazine)