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Prime Minister of Kyrgyzstan decides to terminate contract with Liglass Trading

The Prime Minister of Kyrgyzstan Sapar Isakov decided to terminate the contract with the Czech company Liglass Trading. He stated this at a meeting in the government.

According to Deputy Prime Minister Duishenbek Zilaliev, the government has no legal means to extend the payment of $ 37 million term for the Czech company. «We can’t extend the deadlines either in accordance with the current legislation or in accordance with the agreement,» he stressed.

After his arguments, the head of government instructed to begin the procedure for termination of the contract with the Czech company.

Recall, the government of Kyrgyzstan and Liglass Trading signed an agreement on the construction and commissioning of Ak-Bulun hydropower station and Naryn HPP 1 of the Upper Naryn cascade. The same company won the tender for the construction of ten small HPPs. The government, at the time, voices different terms for payment of $ 37 million by Liglass Trading company for the redemption of 50 percent of shares in Upper Naryn HPPs CJSC. This is exactly the amount Kyrgyzstan should return to the Russian company RusHydro, which is already preparing to file a claim to international arbitration.

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