The laying of the foundation stone for a 500 megawatt new gas steam device (GSD) at the Sumgayit power station will be held on 12 August, the Azerenerji, which implements the project jointly with the German Siemens, told Trend.
Ilham Aliyev, the President of Azerbaijan, is expected to participate at the event.
The Azerenerji and Siemens are carrying out works on accomplishment of the territory, where the site for the foundation of the administrative blocs of the GSD is planned.
The construction will be completed in late 2007 in order the station will deliver the power to the energy network in the winter 2007-2008.
The Consortium of European Banks, led by the Bayerisce Landesbank, allotted a 300,335 million euros credit for implementation of the projects. 257 million euros will be spent on the construction, while the rest part will be directed to the insurance of the credit, payment of consultantвЂ™s service.