Because of Russia, EU wants to help Tajikistan build a large power plant
Moscow, July 11 - Sangar. Source: finance-world.org, author: Farrukh Imamovich. It is the largest energy project in Central Asia and Tajikistan that has been going on since Soviet times and is now being built entirely by the Tajik government itself. Apparently, such statements give a signal about the current "New Great Game" in the field of economics - Sangar.
Tajikistan started building the Roghun hydroelectric plant in 2016, and the construction work was entrusted to the Italian Webuild. The European Investment Bank (EIB) has not yet been involved in financing the project, but a spokesman for the bank said this week that the European Commission had asked them to be the "biggest investor"
Roghun is expected to cost about eight billion dollars, and three billion have been spent so far, Tajik Energy Minister Dalyor Juma said in June.
"The EU wants Tajikistan and its neighbors to be independent of Russian energy"
Dushanbe has so far largely financed the construction through the issuance of government bonds and private sector loans, but has also requested financial and technological support from the EU to complete the project, said an EU official familiar with the talks.
The EIB spokesman declined to comment on the size of the possible investment and the reasons for the financial engagement. The bank has invested around 182 million euros in Central Asia between 2014 and 2020, compared to billions invested in other parts of the world.
An EU official, who did not want to be named because he was not authorized to speak to the media, said a key motive behind the planned EU investment was to make Tajikistan and neighboring countries independent of Russian energy.
The EU wants Central Asia to be energy independent from Russia, the official said. Brussels and its Western allies are trying to isolate Russia because of its invasion of Ukraine, Reuters notes.
The hydroelectric power plant in Roghun with a 335-meter-high dam should solve the problem of chronic electricity shortages in Tajikistan and enable it to export to Uzbekistan and Kazakhstan.
Tajikistan imports the most oil from Russia, and Kazakhstan and Uzbekistan gas, which they mainly use to supply areas connected to Russian infrastructure. The funding would be part of Europe's "Global Gateway" strategy, an EU official said.
Brussels unveiled a €300 billion global infrastructure investment plan in December, presenting it as a better, greener alternative to China's "Belt and Road" initiative. According to the spokesperson, the EIB is considering the possibility of joining forces with the EC, which has an EU budget worth several billion euros and, like the EIB, can raise money on the market.
The Commission confirmed that the EU is ready to consider financing a hydroelectric power plant in Tajikistan. The Tajik government had no comment. It is unclear when the EU plan could be translated into investments. An EU official said that decisions could be made in the last quarter of this year.
