Azerbaijan, Baku, April 27 / Trend A. Hasanov /
Five million manat will be allocated on concessional terms to construct a plant to produce open and closed substations and equipment for aerial electric lines in Baku through the National Entrepreneurship Support Fund, Executive Director Shirzad Abdullayev
told media today.
"Today, the fund allocated the first loan worth 3 million manat," he said. "The remaining two million manat will be delivered at a later stage."
The total project cost is 40 million manat.
The ministry told Trend that the plant construction began in an area of 13,000 cubic meters in the Garachuhur settlement, Surakhani district in 2011. It is planned to complete it in 2013.
The equipment will be supplied to the plant by the German Georg and Swiss Heldrick companies.
After commissioning the enterprise will produce annually 80-100 units of closed and open substations with a voltage of 220-500 kV and capacity 500 of microwatt, as well as equipment for aerial power lines.
A group of companies ATEF is constructing an enterprise. The company owns a plant for the production of electrical high and low voltage transformers and electrical substations. The plant is located in the Amirdjan settlement, Surakhani district. This enterprise also produces the elements of contact networks for railway, drag-out substations for
railway, the metal poling. The company, along with the domestic market, exports its products to Russia, Kazakhstan, Ukraine and Turkmenistan.
About 1,050 people work at the plant. About 160 new jobs will be created after the new plant construction project is implemented.
The official exchange rate is 0,7862 AZN/USD on Aril 27.