Construction of China-Kyrgyzstan-Uzbekistan railway won't incur foreign debt for Kyrgyzstan - President

AKIPRESS.COM - Construction of China-Kyrgyzstan-Uzbekistan railway will not incur foreign debt, President Sadyr Japarov said in an interview with Kabar news agency.
This is a commercial project, the President said.
"Three countries teamed up and set up a joint company. The office of the company is in Bishkek. The director general has been appointed from the Kyrgyz side. Two deputies have been appointed from two other sides. All funds go through Bishkek. Thus, all costs will be under control of Kyrgyzstan and two other countries until completion of construction of the railway," the President added.
China contributes 51% of costs, Kyrgyzstan and Uzbekistan 24.5% each. According to international norms, when all invested funds pay off, the two other parties will leave the project and Kyrgyzstan will own 100%, according to the President.
"This railway is primarily necessary not for others, but for us. We will establish transit corridor through Central Asia to Europe and other countries, China among them. This is also important for economic benefit and geopolitical stability," the President stated.
On June 19, the Parliament approved ratification of the intergovernmental agreement on joint advancement of China-Kyrgyzstan-Uzbekistan railway. The agreement was signed on June 6 in Beijing.
The length of the railway on the territory of Kyrgyzstan will make 311.76 km. Construction of 18 railway stations, 81 bridges and 41 tunnels is planned. The railway will have two track gauges: 1435 mm from Torugart to Makmal and 1520 mm from Makmal to Jalal-Abad.
The cost of construction of the railway is estimated at $4.7 billion.