ARABIAN DAR EL HANDASA MAY BECOME CONSULTANT OF HACHMAZ SUBSTATION CONSTRUCTION PROJECT
The Arabian company Dar el Handasa may become the consultant of the substation construction project in Hachmaz region of Azerbaijan, the Joint Stock Company (JSC) Azerenerji told Trend. The structure put forward its proposals in this regard to the Islamic Bank of Development (IBD), which is to finance the project.
"Our goal is to identify the project consultant for the shortest period. We intend to define it till the year-end and prepare the documents on holding the tender for selection of the contractor. If the Bank will approve this company as the consult, we will be able to set to specific works.вЂќ, JSC noted.
Azerenerji JSC plans to launch implementation of the substation construction project in Hachmaz since 2006.
The President of Azerbaiajn Ilham Aliyev endorsed on 1 September 2005 the agreement on granting the loan by IBR to the government for this project. The Parliament of Azerbaijan approved the loan. Its implementation will enable to improve the energy supply of the countryвЂ™s northern areas with the population of 500,000 people. The IBR credit of $13,508 million will be allocated for 12 years at the 6% of annual interest rate.
IBR expressed also the readiness to allocate the loan for laying the high-voltage transmission line Yashma-Derbent (Russia) ($25 million). It will enable to stabilize the energy exchange with Russia. It is also reflected in the вЂњState Program on Development of the Fuel and Energy Complex of Azerbaiajn (2005-2015". The period of realization is 2005-2007.