A site for foundation under the new Steam and Gas plant (SGP) administrative block of the Sumgayit electrical power station (SEPS) (SEPSвЂ" projects of Azenerji and Siemens) is under preparation, the Azenerji press service told Trend, citing the SEPS director Vugar Shakhmuradov.
According to him, the first-stone laying special ceremony with participation of the country’s top leadership will take place shortly. “The major task of the future power station is the qualitative improvement of Sumgayit power supply.
The specialists forecast considerable
growth of power consumption in this region for the coming several years”, Shakhverdiyev noted.
Over 1000 people will be involved in the works at the object with the start of the specific construction works.
The construction works will be completed, in general, in the second half of 2007 for the power station to supply electrical energy to a full capacity in winter season of 2007/2008.
For the project implementation the Concortium of European banks, headed by the Bayerisce Landesbank, the French Societe Generale and BNP Paribas, the loan in the amount of 300,335 million euro have been allocated.
257 million euro will be spent on construction, the rest will be directed to the loan insuring, payment for consulting services and bonuses the creditors