Azerbaijan, Baku, Aug.19 / Trend I.Khalilova /
The Chinese company CINEC, a general contractor, will set up constructing electricity transmission lines of the Azerbaijani State Regional Electric Stations (AzSRES)-Imishli in 2009, head of the Baku office of the German development bank KfW, Natiq Abdullayev said.
KfW lent € 30 million to realize the project, just paying 85 percent of its value.
At present, the contractor is carrying out the orders for equipment needed for construction under the installment of loan, Abdullayev said.
The project envisages the construction of ETL with the length of 195 km from AzSRES based in Mingachavir to Imishli. It is also planned to build a substation in Goranboy and expand field of electricity supply in the Imishli substation with a capacity of 330 kilowatts by creating a separate cell. The ETL will increase the overall capacity from the current 200 megawatts to 700 megawatts.
KfW and the Azerbaijani Government signed an agreement in Baku on June 27, 2007. Under the agreement, Azerenergy, acting as the beneficiary, is committed to complete the construction of ETL by late 2009.
The German bank issued loans for the project for 12 years with a grace period of two years and at the rate of eurobor +0 percent.
Do you have any feedback? Contact our journalist at: [email protected]