IRNA � Tajikistan's Power Generation and Distribution Company announced on Friday that the country is ready to pay off its $62 million dollar debt to Iranian Sang toudeh-2 power plant.

Sang toudeh-2, a hydroelectric power plant located 180 kilometers out of Tajik capital, was jointly constructed by Iran and Tajikistan.

Iran invested some $180 million on the project with Tajikistan investing some $40 million.

Head of Tajikistan's Power Generation and Distribution Company Mirza Esmaeelzadeh told Tajik loal medai that the company has no problem with the Iranian side and will pay back its debt based on the time table.

Under the terms of a contract between the two countries, Iran will be allowed to make use of the power plant for the first 14 years and then it will be handed over to the Tajik side.