A mission of JBIC (Japan Bank for International Cooperation) will arrive to Baku on January 15, 2007 in order to get acquainted with the implementation of the project on the reconstruction of the second combined-cycle phase at DRES Shimal, a source in the Cabinet of Ministers of the Country informed Trend today. The project is expected to be fully completed in August-September, 2008.
According to the contract between Azerenerji and Tepsko and Emprima Consortium, presently, a tender on designing, procuring, construction, mounting, testing, launching and putting into commission of the new combined-cycle plant with the nominal capacity of 200 MWatt at Shimal Electric Power Station, four 220-KWatt transmission lines, and one substation with the capacity of 220/110 Kwatt is carried out. The tender will be held on January 22, 2007.
JBIC has already granted a lax credit to the sum of 29,28 bln. Yens ($270 mln.).. The funds have been granted for 40 years with the lax period of 10 years with the interest rate of 0,75% per annum. The project is implemented without the share holding of the Azerbaijan Government. The first plant was constructed by Japanese Alliance Mitsui/Mitsubishi.