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New terms. Liglass has to pay $ 37 million until September 19

The State Committee for Industry, Energy and Subsoil Use says that Liglass Trading has to transfer $ 37 million to the authorized capital of Upper Naryn HPPs CJSC until September 19, 2017. Press service of the committee reported.

According to it, the investment agreement with the company indeed has a clause stating that Liglass Trading is to transfer the required amount within 30 banking days from the date of signing the agreement.

The investment agreement on construction of two HPPs of Upper Naryn cascade is a quadripartite one and comes into effect from the moment of its signing by all parties — the government of Kyrgyzstan, Liglass Trading, National Energy Holding Company and Electric Stations OJSC.

The government and the Czech company itself signed the agreement on July 10, 2017, and National Energy Holding Company JSC and Electric Stations JSC — on August 4, 2017 after the approval of the transaction by shareholders.

«Thus, August 4, 2017 is the date of signing and the entry into force of the investment agreement. Taking into account the holidays (August 31 and September 1, 2017), the payment period expires on September 19, 2017 (inclusive),» concluded the committee.

Earlier, Vice Prime Minister Duishenbek Zilaliev voiced another term for payment of money — September 18.