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Kyrgyz Parliament Ratifies Energy Agreement With Russia

BISHKEK -- Kyrgyzstan's parliament has ratified a Kyrgyz-Russian agreement on the construction and operation of power stations on the Naryn River.

The ratified deal is expected to be signed by President Almazbek Atambaev.

The deal was reached last September during Russian President Vladimir Putin's visit to Bishkek.

It calls for the Russian side to invest about $1.7 billion into the project.

The Russians will own 75 percent of the nine hydropower stations' shares until the upfront investment is repaid.

After that, each side will hold 50 percent of the project's shares.

The Kyrgyz parliament had been intensely debating the agreement since December.

Neighboring Uzbekistan has criticized the project, saying the interests of every country in the region should be taken into account when energy-related agreements are made.

With reporting by Interfax

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