PM: Kyrgyzstan could get additional $80M if creation of Kumtor joint venture wasn’t delayed 

 "Kyrgyzstan could receive additional $80 million if the issue on creation of Kumtor joint venture wasn't delayed," the Prime Minister Zhantoro Satybaldiyev stated today at a session of Ata-Zhurt parliamentary faction.

According to him, this sum is two times larger than the whole grant aid, which the country receives annually. "The Government considered different variants of Kumtor future. We had four variants: the first - to leave everything as it is, i.e. 33 percent of our shares in Centerra, but nobody agrees with it now. The second is to strive for 67 percent of Kyrgyzstan's share. But we couldn't get it, because 17 percent of our shares we have sold to Centerra in 2003. The third variant is a unilateral withdrawal from the agreement, which is equal to collapse of our economy and the fourth - nationalization. But it won't bring anything good to our country too. That is why we insist on creation of a joint venture with equal participation interest," Zhantoro Satybaldiyev added.

Recall, the Government suggests creation of a joint venture with the Canadian investor with equal participation interest.