DUSHANBE, August 5, 2015, Asia-Plus - The Tajik Aluminum Company has partially repaid its electricity debts, according to Barqi Tojik power holding (a national integrated power company of Tajikistan).

“Over the first half of this year, TALCO has reportedly reduced its electricity debts by 197.3 million somoni and TALCO’s electricity debts now amount to nearly 332 million somoni,” and official source at Barqi Tojik said.

According to him, they have spent those 197.3 million somoni to pay their debts.

The Tajik Aluminum Company (TALCO) is one of the ten largest aluminum smelters in the world and provides up to 70% of the country’s foreign currency earnings, consuming 40% of the country’s electrical power.  TALCO is wholly owned by the Tajik government.  Tajikistan does not mine alumina but imports the raw material through tolling arrangements.

Construction of the Tajik aluminum plant (TadAZ) began in 1972, and the first pouring of aluminum took place on March 31, 1975.  On April 3, 2007, TadAZ was officially renamed to TALCO – Tajik Aluminum Company.  The Tajik aluminum smelter had the capacity to produce 517,000 metric tons per year.

The Barqi Tojik accounts payable have reportedly exceeded 1 billion somoni.

Besides, Barqi Tojik’s tax debts amount to 152 million somoni.

Meanwhile, the national integrated power company’s accounts receivable have reportedly exceeded 1.1 billion somoni.

Open Stock Holding Power Company Barqi Tojik is a 100% state owned vertically integrated power utility responsible for generation, transmission and distribution of electricity in Tajikistan.