Kepko Coordinates with Azerbaijan Agreement on Energy Conversion and Leased Lands for Construction of Private Thermoelectric Power Station

Oil&Gas Materials 5 March 2008 18:28 (UTC +04:00)

Azerbaijan, Baku, 5 March / corr. Trend I. Khalilova/ Kim Jin Sik, the vice-president of Kepko- the South Korean, company visited Baku to discuss the implementation of a project on the construction of private thermoelectric power station with a capacity of 818 MW in the settlement of Alat (near Baku), the Ministry of Economic Development of Azerbaijan said on 5 March.

Heydar Babayev, the minister of economic development of Azerbaijan, said in a meeting that the experts will coordinate the final draft of Agreement on Energy Conversion and Leasing of Land this week. The documents will be presented to the relevant bodies for co-ordination.

Taking into consideration the fact that the project is the first of its kind in Azerbaijan and post soviet space, the Ministry of Economic Development of Azerbaijan has invited international experts to asses the project. The French BNP Paribas is the financial consultant, the English companies Allen & Overy is juridical and MottMacDonald is the techical consultant, and Azerbaijani MGB is also the jurridical consultant.

The project, developed in accordance with the feasibility study of Kepko, costs AZN640mln.

Due to the introduction of modern gas tribunes in the station for production of 1KW/h energy, some 0.185 cu. meters of the natural gas will be used.

The station is expected to be built for 25 years.

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