Azeri gov't, KFW to discuss Energy project conditions

Electric transmission lines AzHES-Imishli construction project will finally be agreed between the German bank for reconstruction KFW and the government of Azerbaijan in April. KFW has allocated 30mln Euro for the development of the project.

According to the head of KFW Baku office, Natik Abdullayev, the relevant agreements might be signed by the end of negotiations with the government. The project proposed for KFW includes building of electric transmission lines with 195km continuity from AzHES till Imishli. It also considers sub-station building in Geranboy and expansion of the energy transmission field on Imishli sub-station with total power of 330Kvt, by creating a separate cell. After the termination of electric transmission lines building, total power of electric lines will increase from 200MW to 700MW.

The project will be financed by the German bank on semi-commercial conditions. Credit will be granted for 12 years with 2-year beneficial period and fixed rate (though it would tied to libor) According to Abdullayev, terms of this energy project were mollified due to the grant received from the German fund of energy savings and effective energy use. As a result, the banks financing consists largely of grants, otherwise credit term would have been for 8-10 year term with the high interest rate. It comes as the first grant of this type that Azerbaijan receives from the German government, and it is explained by the fact that Germany considers Azerbaijan as part of Europe. It means that if a developing country is ready to undertake actions connected with the regional development, Germany would be ready to provide such assistance.

Up to now Azerbaijan has received from the bank beneficial credits with the term of 40 years with the grace period of 10 years and 0.75% interests.

Turkmenistan appoints new heads of state structures in oil, gas sector
Turkmenistan appoints new heads of state structures in oil, gas sector
Azerbaijani oil prices (June 29-July 3)
Azerbaijani oil prices (June 29-July 3)
Oil up on tighter supply, expectations for positive data
Oil up on tighter supply, expectations for positive data
Loading Bars
Latest
Israel decides to close bars, clubs, gyms after coronavirus infection rise
Turkmenistan appoints new heads of state structures in oil, gas sector
Azerbaijan's AzerGold company to finance eco-monitoring of local ore deposit
Bank of Georgia finances project to promote country's wine sector
Bank supply at Azerbaijan's CBA deposit auction tops demand almost four-fold
Georgia approves flight schedule to ensure return of its citizens from abroad
Volume of cargo transshipment through Turkish Bandirma port disclosed
Turkey's export of cars abroad from January through June 2020 down
Irish temporary COVID-19 jobless claims fall to 412,900
Azerbaijani president makes phone call to first president of Kazakhstan
Cash turnover in Uzbekistan's banking system increases
Details on cargo transshipment from Iraq via Turkish ports unveiled
Kazakhstan working to create legal regulation for digital technologies
OSCE becomes tool of certain countries’ political orders due to people like Harlem Desir
Share of non-oil enterprises in Azerbaijan's GDP growing
Thai central bank says has not closed door to further easing
Lithuanian business increasingly interested in investing in Kazakhstan
Turkmenistan to strengthen control over use of state loans
Qatar coronavirus cases exceed 100,000, health ministry says
Kazakhstan, Turkey to jointly increase capacities of Trans-Caspian int'l transport route
WHO mission to arrive in Turkmenistan
Prices on food market of Uzbekistan decrease
Uzbekistan to build large business center in Tashkent region
Slovakia cuts countercyclical buffer rate for banks to 1.0%
Georgian real estate consulting company predicts lower prices for apartments in Batumi
Iran to benefit from long-term co-op with China - Chamber of Commerce
Indonesia unveils $40 billion bond scheme to fund recovery from pandemic
Vietnam reports 14 new COVID-19 cases, all imported
Turkish export of defense products to int'l markets down in 1H2020
Swiss passengers don masks on trams and mountain trains to fight COVID-19
Kazakhstan, Vietnam trade turnover down twofold
Turkmenistan unveils plans to expand its industrial sector
Total revenues of Georgian largest telecom operator Silknet grow
Turkey's five-month export to EU lowers
Hungary EXIM Bank opening investment line for Georgia
Greece to resume direct flights with Britain from July 15
Number of Uzbek companies operating in Kazakhstan surges
Hungarian companies interested in expanding business in Georgia
Azerbaijani president, first lady attend inauguration of modular hospital in Baku (PHOTO)
Philippines reports 2,099 new coronavirus cases, 6 deaths
Azerbaijan's ADY Container sets new record in cargo transportation speed
Uzbekistan's COVID-19 cases surpass 10,000
Azerbaijani oil prices (June 29-July 3)
Latvia to finance multiple projects in Uzbekistan
Iran's mobile phone registration plan helps curb smuggling
Uzbek chemical plant improves production of sodium carbonate
Oil up on tighter supply, expectations for positive data
Iranian banks offer loans to Justice Shares owners
Indonesia reports 70 new coronavirus deaths, 1,209 new cases
Iran bans export of face masks amid increase of COVID-related deaths
Defense Ministry dismisses rumors on Azerbaijan's air space used to attack Iran
Turkey's export of ready-made clothing abroad down thanks to COVID-19
Kazakhstan's oil & gas company to buy filters via tender
Share of Yahoo, Yandex search engines in Azerbaijan down
Most popular operating system in Azerbaijan revealed
Turkmenistan to implement new programs to increase cotton production
Iran uses monitoring systems to prevent fuel smuggling
European Gymnastics President: Baku Aerobic Gymnastics World Championships dates confirmed
Volume of dolomite transshipment through Turkish ports announced
Gold price decreases in Azerbaijan on July 6
Turkmen greenhouse plans to harvest large crop of bananas
Kazakhstan decreases export of locally-made goods to US
Russia reports more than 6,600 new coronavirus cases
Turkish export of grain, legumes to int'l markets in 1H2020 rises
Ford's China ventures extend auto sales recovery in June
Iran talks exports to Venezuela, hints at bartering option
Geostat: US ranks 7th among largest importers of Georgian products
McKinsey and Co.: Coronavirus to have lasting impact on energy supply
Turkmenistan sells base oil to UAE, Turkey, Afghanistan
Azerbaijani currency rates for July 6
Uzbek Central Bank announces newly-set exchange rates
Zarif defends Iran's deal with China before MPs during parliament session
Georgia sees increase in COVID-19 cases
Uzbek livestock farmers to obtain lands without auction
Armenia violates ceasefire with Azerbaijan 57 times
Iran's Gold and Jewelry Union talks gold, gold coin prices on local market
Israel launches spy satellite to keep a better eye on enemies
Healthcare official talks Iran's flaws in battling COVID-19
Export data of Iran's knowledge-based companies revealed
Turkmenistan's import of clothes from Turkey drops
Azerbaijan-Mexico five-month trade turnover increases
One fifth of German firms fear for their survival amid pandemic
Tesla mocks shortsellers with sale of red satin shorts
Kazakhstan's oil & gas company to buy spare parts via tender
AIIB to support Kazakhstan’s gov't in mitigating COVID-19 impact
Germany's confirmed coronavirus cases rise by 219 to 196,554
UK new car sales post smaller slump in June on annual basis
With nearly 700,000 coronavirus cases, India is third worst-hit country
Iran, Turkey in waiting mode on direct flights due to COVID-19 spread
Persian Gulf Star Refinery to increase production
Kyrgyzstan confirms 314 new COVID-19 cases
Georgia's main import articles from Azerbaijan revealed
Russia increases steel import from Turkey
BSTDB to focus on Azerbaijan's manufacturing, agribusiness sectors
Kazakhstan confirms 1,403 new coronavirus cases
Chinese mainland reports 4 new confirmed COVID-19 cases
Iran says sets up underground missile bases along southern coasts
Turkey spoiled traps set against it in east Med: Erdogan
Saudi Arabia announces Hajj health measures for domestic pilgrims
Charter flight from Amsterdam to Georgia carried out
All news