Some 350 million manat to be invested in Azerbaijan’s energy and industry

Oil&Gas Materials 13 October 2011 19:54 (UTC +04:00)

Azerbaijan, Baku, Oct. 13 / Trend , E.Ismayilov /

The volume of investments in 2012 in Azerbaijan's energy sector and industry is forecasted at 342.6 million manat, the draft state investment program for 2012 published by the Finance Ministry reads.

Based on the preliminary distribution, 316 million manats of total investment in the energy and industrial sectors will be directed to public investment, and the remaining 26.6 million manat will be achieved through foreign loans.

Particularly, the investments will be made in a project to restore the high-voltage transmission line (500-kilowatt) from Mingachevir to the border with Georgia, construct a 16.5-megawatt power station in Lerik, to lay high-voltage power lines (35 kV), as well as to construct 2 35 - kilovolt substation foe ensuring stable energy supply Lerik and Yardimli, and construct substations 220/110/10-kilovoltnoy (Boyuk Shore) in Khirdalan.

In 2012, it is also planned to invest in the reconstruction of electricity distribution networks, construction of nitrogen fertilizer plant, increase of Bakielektrikshebeke's share capital for reconstruction, construction of municipal solid waste incinerator in Baku, creation of alternative sources of energy by regeneration of wind, solar, biomass and geothermal sources, as well as centralized project management of solid waste (with the assistance of World Bank).