Talks with EBRD for AzHPP rehabilitation are on Azenerji president

Oil&Gas Materials 6 June 2006 17:03 (UTC +04:00)

At the moment Azenerji AO and EBRD are preparing contract documents for rehabilitation of AzHPP in Mingachevir, Trend reports quoting Etibar Piriverdiyev, President of AO.

EBRD is planning to issue a $115mln credit for 15 years at preferential period 3 years at libor+1% rate, Piriverdiyev said.

He said also equipment purchases are starting in September.

EBRDs credit will be mainly allotted for rehabilitation of turbine equipment and environment improvement.