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RusHydro not notify Kyrgyzstan of sale of its share in Upper Naryn Cascade

RusHydro company did not officially notify Kyrgyzstan of plans to sell its share in the project for the construction of the Upper Naryn cascade of hydropower plants. Deputy General Director of Electric Stations OJSC Ulan Orozoyev told today at a press conference.

According to him, the Kyrgyz side continues to insist on conducting an independent audit of funds invested in the construction of the Upper Naryn cascade. Only after that Kyrgyzstan is ready to consider the debt repayment issue. However, RusHydro is against audit and demands to return the money.

«The trial should take place in The Hague, but the Russian side has the right to sell its share. We are studying the issue. We don’t know when the decision was made,» commented Ulan Orozoyev.

Recall, shareholders of RusHydro company decided to sell the company’s share in Upper Naryn Hydropower Plants CJSC as a non-core asset.