DUSHANBE, July 6, 2010, Asia-Plus  -- A meeting of stockholders of open joint-stock company (OJSC) Sangtudinskaya GES-1, which operates the Sangtuda-1 hydroelectric power plant, has decided not to pay dividends for 2009.

The meeting that took place on July 6 considered annual report and accounting report for 2009.  The meeting, in particular, considered issues related to distribution of profits and losses and decided not to pay dividends for last year.

The meeting also elected the company’s board of directors.  The directors’ board members now include Aleksandr Alkaneyev, the first deputy director general of Rosenergoprom, Sherali Gul, Minister of Energy and Industries of Tajikistan, Sergey Mikhaylov, the director of the energy policy department of the Ministry of Energy of Russia, Dmitry Palunin, CFO of OJSC Inter RAO YeES, Sergey Rumyantsev, the head of the economy and finance unit of OJSC Inter RAO YeES, Shavkat Sohibov, Deputy Finance Minister of Tajikistan, and Yuri Shahrov, the head of the capital development and engineering unit of OJSC Inter RAO YeES.

The director general of OJSC Sangtudinskaya GES-1 is Vladimir Belov. 

Russia’s Inter RAO YeES and the Ministry of Energy and Industries of Tajikistan signed an agreement on the establishment of Russian-Tajik OJSC Sangtudinskaya GES-1 in Dushanbe on February 16, 2005.  The company was established to complete the construction of the Sangtuda-1 hydroelectric power plant (HPP) on the Vakhsh River.

President Emomali Rahmon and his Russian counterpart Dmitry Medvedev officially unveiled the fourth and last unit of the Sangtuda-1 HPP on July 31, 2009.  Russia retains a 75 percent share in the power plant, which has an estimated capacity of 670 MW.

According to Sangtudinskaya GES-1, the station now accounts for some 15 percent of the overall volume of electricity produced in Tajikistan.