Azerbaijan, Baku, Dec. 23 / Trend I.Khalilova /
The China Nuclear Engineering & Construction company - CNEC, being a contractor of the project on the building power of lines AzSRPP- Imishli, has started work, German Development Bank KFW Baku Office head, Natig Abdullayev told Trend. The Azerbaijani company Azenko is a subcontractor on the project.
Abdullayev said "The schedule for the completion of construction is late 2011,".
The project involves the construction of transmission lines with a length of 195 kilometers from the AzSRPP (State Regional Power Plant) to Imishli. Plans are also afoot to build a substation in Goranboy, and to expand the field of electricity supply at the Imishly substation with a capacity of 330 kilowatts by means of creating a single cell. After the construction of transmission lines, the latter's capacity will extend from the current 200 to 700 megawatts.
The German KFW Bank allocated 30 million euros to finance the project and offered to pay its entire cost. Credit will be granted for a term of 12 years with a grace period of two years. The terms of this power project were made possible by from the Federal Government of Germany's German Fund for Energy Conservation and Energy Efficiency. Part of the funds will be allocated as a grant, while a high interest rate loan would be given for a period of 8-10 years.
CNEC is the largest Chinese company involved in the construction of power plants.