Bishkek, Sept. 7, 2017 /Kabar/. Vice Prime Minister of Kyrgyzstan Duishenbek Zilaliev commented on the statement made by head of RusHydro Nikolay Shulginov about the reparation for the appeal to the international arbitration for return of the means invested in the project of construction of the Upper Naryn cascade of hydroelectric power station in Kyrgyzstan.
Zilaliev told Kabar Agency that the company has always had the right to appeal.
"But, I think that after Liglass trading company to pay them $ 37 million, they will not be able to sue the court," he said.
The Russian media reported that Hydro carries out preparation for the appeal to the international arbitration for return of the means invested in the project of construction of the Upper Naryn cascade of hydroelectric power station in Kyrgyzstan.
The Agreement on construction of hydroelectric power station Russia and Kyrgyzstan have signed in September, 2012.
In January 2016, Kyrgyzstan denounced agreements with Russia on the construction of a hydroelectric power station. One of the reasons for this decision was the lack of decisions on the financing of projects.
Shulginov estimated the cost of investment in the Upper Naryn cascade of hydroelectric power station at $ 35-36 million.
RusHydro emphasizes that the intergovernmental agreement on the construction and operation of the Upper Naryn cascade of hydroelectric power stations was unilaterally terminated by Kyrgyzstan. RusHydro never made any statement about the intention to stop the construction of the Upper Naryn cascade of hydroelectric power stations," the company said in a statement.
In July 2017, Kyrgyzstan signed an agreement with the Czech company Liglass Trading CZ on the construction of the Akbulun HPP and Naryn HPP-1 of the Upper Naryn cascade.
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