Two alliances submitted document to participate in reconstruction of HPP in person of consultant

Oil&Gas Materials 30 June 2006 15:50 (UTC +04:00)

Four companies unifying in two alliances expressed their interest in participating in the reconstruction project of Azerbaijan Heat Power Plant (HPP) in the person of technical consultant,Trend reports with reference to the press-service of Azeranarji SC. The first alliance was formed from German DECON and Vattenfall, and the second one from German Fichtner and Japanese TEPCO.

The final decision of selection of the consultant will be made by the European Bank for Reconstruction and Development (EBRD) which finances the project. The selection of the consultant will be completed by the end of July. The duties of the consultant will include measures on preparation of competitive specification, holding tender for determination of contractor and controlling the implementation of works.

The Board of Directors of EBRD approved the allocation of the credit to Azerenerji for the reconstruction of the plant in late June. For this, purpose, $115m has been disbursed with standard terms (for 15 years, with 3-year payment delay and interest rate Libor +1%).