USD 74.08
EUR 81.18
RUB 1.04

Prime Minister admits flaws in Liglass Trading issue

«There were flaws in Liglass Trading issue,» Sapar Isakov, the Prime Minister of Kyrgyzstan, admitted today at a meeting of the Business Development and Investment Council.

According to him, the company Liglass Trading appeared in the country together with other companies that participated in the tender for the construction of small hydropower stations. The documents had a paragraph about other additional projects the company can implement. Liglass Trading indicated that it is ready to build the Upper Naryn cascade of HPPs. After that, negotiations with it began.

«It was agreed that the terms of construction would be the same as with RusHydro, but taking into account the need to pay the Russian company $ 37 million. During the participation in the competition for small hydropower plants, the Czech company paid almost $ 1.2 million. This money is on the account of the state,» Sapar Isakov said.

Our position is that we have properly waited whether the company fulfills its obligations or not. We made sure that it had not fulfilled them, and today we are completing the procedure of termination of the agreement.

Sapar Isakov

«If we had done this before, we would have been sued in arbitration. And we would lose. I would like to say that today there is an excessive politicization of the issue, because this is a good tool for using it in their own interests for individual politicians. Yes, the case with Liglass Trading is a failure of the government. But we will make efforts to go further and effectively implement similar projects,» Sapar Isakov concluded.