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Liglass Trading makes official statement

Liglass Trading is puzzled and disappointed by the scandal that has erupted. Its official statement was posted on the website of the company.

«First of all, we want to express bewilderment and some sadness because, instead of pride for the Czech company that had success in an open international tender, there are attempts to look for and hints at the existence of some conspiracy theories that could harm the company and the whole project, first of all, because this large and prestigious tender can lead to a huge development of bilateral trade relations and can open the doors to other Czech investors in the region," the statement says.

It is also noted that the keystone of success has ever been the fact that the company is confident in a stable business environment in Kyrgyzstan, fully trusts its political representation and believes that the commitments will be fully implemented in accordance with the documentation for the transaction. Therefore, Liglass Trading sought to get this prestigious contract and invested in the preparation for the tender huge energy and significant financial resources.

«This certainty and trust, probably, was not enough for other economic entities, public or private, who did not participate in the tender and are now trying to change the situation," Liglass Trading believes.

In its defense, the Czech Liglass Trading has several arguments:

  • The structure of the company’s owners is transparent;
  • The company is working on the implementation of a specific investment project in the hydropower plants in Kyrgyzstan;
  • It belongs to a group of companies controlled by Michael Smelik. These companies, together with their business partners, participated in the implementation of renewable energy projects around the world;
  • Liglass Trading does not receive grants, subsidies or other support and does not use the services of the Czech Export Bank, EGAP, CzechTrade agencies or other similar organizations related to the Czech state;
  • It is not a member of any professional organizations;
  • It has no tax arrears in the Czech Republic;
  • Liglass Trading has nothing to do with Liglass, a.s., neither financially nor personally.

As for the tender for the construction of small hydropower stations, the statement emphasizes that Liglass Trading participated in an open tender, paid a guarantee fee, presented technical documentation.

Liglass Trading emphasizes that the company has been active in Kyrgyzstan for a year and a half and has continued the activities of its partners who have worked in Kyrgyzstan for three years.

Local specialists will be involved in design, procurement and construction. The project for the construction of two HPPs of the Upper Naryn cascade will be implemented with the support of the Armenian company GIDEPINVEST.

Liglass Trading also assures that there will be no financial problems. It cooperates with Green Capital and Pantheon, which have experience in financing renewable energy projects.

However, more detailed data will not be provided. Liglass Trading is required to maintain confidentiality with regard to financing agreements.