A foreign consortium of five companies has shown their interest in investing $1 billion USD in the Kokcha dam project in Takhar province, however government is not happy with their terms.

Officials said on Monday the consortium is made up of two European companies, one Kazakhstani firm, a Chinese company and a Malaysian company.

Officials from the consortium said they are ready to build the dam based on the Power Purchase Agreement (PPA) and then sell the power to government for 13 years. After 13 years they will hand over the dam to government. 

The consortium has bid for the contract on two occasions. On both occasions they were the only group bidding.

The consortium however wants to build the dam based on the PPA agreement, but government wants them to work under the Public Private Partnership Agreement.

“We along with our partners can construct this dam in six years based on a contract with government,” Kenessary Smagul, a member of the consortium said. 

The water and energy ministry meanwhile said Kokcha Dam would be able to produce around 450 megawatts of electricity per hour. 

“The documents of the project have been sent to the High Economic Council and they will process it,” Asif Rahimi, the head of the energy minister’s office said. 

The Office of the Senior Advisor to the President in Banking and Finance meanwhile said government is trying to carry costs of the Kokcha dam based on the Public Private Partnership Agreement. 

“Government has provided the context for absorbing foreign investments in different sectors. We hope that these companies, with government, work based on the PPP agreement.

“This project will be put out to tender once again and companies with better conditions should compete,” said Samir Rasa, head of the media office for the senior advisor to the president said.