18:00
USD 69.84
EUR 79.25
RUB 1.06

RusHydro prepares lawsuit on Upper Naryn HPP cascade

RusHydro notified Kyrgyzstan of the preparation of the lawsuit to the court in The Hague on the Upper Naryn HPP cascade and would soon file it. Russian Prime news outlet reported, referring to the speech of the company’s CEO Nikolai Shulginov at the shareholders’ meeting.

«Our delegation will leave for Kyrgyzstan at the invitation of the Kyrgyz side tomorrow to continue the negotiations. Although, we do not expect positive results. In parallel with the negotiations, we are implementing measures to consider the dispute in international arbitration in The Hague, the notification was sent to the Kyrgyz side. The materials were sent to the Permanent Arbitration Court. The next is the selection of the arbitrators, after that the suit will be prepared and sent to this court,» Nikolai Shulginov stressed.

The Permanent Court of Arbitration (PCA) is an international arbitration court located in The Hague.

In 2016, the Kyrgyz authorities unilaterally terminated agreements with Russia on the joint construction of the Upper Naryn cascade of HPPs and Kambarata HPP-1. After that, RusHydro announced its intention to apply to international arbitration with a claim to collect the company’s $ 37 million spent on the project. Kyrgyzstan asks the Russian company not to sue.

Popular