China will provide a loan of $88 million to build three plants in Tajikistan

Almaty. January 15. Silkroadnews - «China Exim bank will provide a soft loan of $88 million for the construction of plants producing cryolite, aluminum fluoride and sulfuric acid in the territory of the Javan area, located 70 km south-east of Dushanbe", - informed the agency in the lower house of parliament RT.
As specified, on the eve the lower house of the Tajik parliament ratified the relevant agreement on allocation of soft loan from Export-Import Bank of China for the project three plant as part of the modernization of enterprise "Tajik Aluminum Company" (TALCO) and implementation of the transition aluminum company to local raw materials.
Totally this project is estimated at $125.5 million, $38 million of which will invest "TALCO", the remaining funds in the form of a soft loan will provide the Chinese side.
It is noted that the construction of a plant for the production of cryolite and aluminum fluoride was started in 2008, but the financial crisis has not allowed the aluminum company to complete it. Currently, over 40% of the work on the construction of the above plant is completed.
As noted, the Chinese loan will be repaid by aluminum company and does not represent a risk to the country's budget.