DUSHANBE, January 5, 2012, Asia-Plus -- By government’s decree of January 4 Fazliddin Shoiddinov, formerly director of the Norak hydroelectric power plant (HPP), was appointed director general of joint-stock company (OJSC) NBO Roghun, replacing Nourullo Shulashov.
Tajikistan founded OJSC Roghun-HPP with an authorized capital of 116 million somoni for completing the construction of the Roghun station in April 2008 after it formally revoked a contract with Russia''s RusAl aluminum company for the construction of the Roghun HPP in August 2007. The Tajik government accused the Russian company of failing to fulfill the contract signed in 2004. Tajik authorities and RusAl became bogged down in the hydroelectric plant''s dam model and height, crucial factors in its capacity.
To raise funds to complete construction of the Roghun HPP the government started to sell shares in Roghun to people on January 6, 2010. Tajikistan has reportedly issued 6 billion somoni worth of Roghun shares.