Representatives Assembly Deputies Discuss Financing Agreement Between Tajikistan and IDA
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Yesterday, the deputies of Representatives Assembly held a meeting chaired by Speaker Mahmadtoir Zokirzoda.
The meeting focused on the Financing Agreement (Norak Hydroelectric Power Plant Reconstruction Project, Phase II) between Tajikistan and the International Development Association (IDA), and the draft approval of the structure, tasks and a single estimate of income and expenses of the Representatives Assembly for 2021.
While discussing the Financing Agreement, Minister of Finance Fayziddin Kahhorzoda and Representatives Assembly Deputy Giyosiddin Mahmurodzoda noted that the document was signed in December 2020 in Dushanbe.
The project is aimed to restore and increase the production capacity of six hydroelectric units of the Norak HPP and increase their efficiency.
The Norak HPP was commissioned in 1970s, and currently its equipment is worn out and needs to be repaired. In this regard, with the financial support of the World Bank and with the involvement of the consulting company Tractebel Engineering S.A. from 2015 through 2016, a feasibility study was prepared for its reconstruction.
The first phase of the project consists of three parts — replacement of three units, their auxiliary equipment, and transformers. Its implementation period is five years (2019-2023).
To date, $ 326.9 million has been raised to finance the first stage of the project, of which $ 169.1 million is in loans, $ 57.8 million as a grant from the World Bank, $ 60 million loan from the Asian Infrastructure Investment Bank and $ 40 million loan of the Eurasian Development Bank.
The second phase of the project covers the reconstruction of the remaining six units and overhaul of the drainage hydro turbine units, replacement of high voltage transformers, 6 kV switchgear in the turbine hall and lifting mechanisms with a capacity of 360 tonnes, as well as other necessary auxiliary equipment within five years (2024-2028) worth $ 148,6 million.
Source: National Information Agency of Tajikistan