There is currently no agreement stating that the China-Kyrgyzstan-Uzbekistan railway will be handed over to Kyrgyzstan 31 years after it starts operating, said Azamat Sakiev, the General Director of the State Enterprise "Kyrgyz Temir Zholu" during a session of the parliamentary committee on transport, communications, architecture, and construction, 24.kg reports.
However, he assured that a contract will eventually be signed stipulating that the railway will come under Kyrgyzstan's control in the future.
"This is an investment agreement. It is proceeding procedurally. I will inform you of the results of our work within two months," Sakiev said.
Deputy Baktybek Sydykov emphasized the need to include in the foundational documents that the railway, most of which runs through Kyrgyzstan, will belong to the country after 31 years.
It was previously reported that Chinese banks will provide the funds for the construction of the China-Kyrgyzstan-Uzbekistan railway in the form of loans to Kyrgyzstan, Sakiev stated.
He noted that the feasibility study for the project has been developed. The total cost of the agreement is $4.7 billion.
"According to the agreement, China will cover 51% of the costs, while Kyrgyzstan and Uzbekistan will each cover 24.5%," Sakiev said.
The Director of "Kyrgyz Temir Zholu" clarified that half of the total project cost, $2.35 billion, will be provided by the Chinese side as a loan to the joint venture. The remaining $2.35 billion must be covered by the respective countries' own funds. Consequently, Kyrgyzstan's share will amount to $783 million.
The office coordinating the construction of this railway opened in Bishkek in January 2023. It coordinates joint measures to expedite construction work. The feasibility study for the project is being developed by the Design and Survey Institute of the China Railway Construction Corporation.
CentralasianLIGHT.org
June 18, 2024