DUSHANBE , August 1, Asia-Plus - India ’s CHL International intends to drum up further US$25 million in loans in the construction of hotel in Dushanbe , according to information from the Ministry of Economy and Trade.  

Jamshed Sharipov, the head of the foreign economic relations department of the Ministry of Economy and Trade, says that earlier Indian experts estimated the budget for the construction of the hotel in Dushanbe at US$25 million.  “But later, following changes in the state of the market, some amendments have been made to the project and its budget has been raised to US$35 million,” Mr. Sharipov said, noting that more than US$3 million of this amount has been assimilated as of July 1. 

This issue is also expected to be discussed at the ongoing third session of the Tajik-Indian economic commission in Delhi . 

“This issue is also supposed to be resolved at ministerial level during President Rahmonov’s visit to India, scheduled for August 5-6,” said Jamshed Sharipov, “A loan will probably be provided Tajikistan’s commercial structure under guarantees of CHL International.”

The Asia-Plus interlocutor has also added on the completion of the construction of a five-start hotel in Dushanbe India’s CHL International intends to conclude franchising  (commercial concession) contract with one of foreign hotel companies, which will not only give its name to the hotel but will also assume management of it.  

ABOUT: An agreement on providing 4.8 hectares of land in Dushanbe for the construction of five-start hotel was signed between the Dushanbe Mayor’s office and India ’s CHL International on September 28, 2001 .  The hotel is being built on the place of the former isolation hospital in the Ayni Street .  The construction work started in 2004.