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Azerbaijan to Implement Reconstruction of Mingachavir HPS on IDB Funds

Oil&Gas Materials 25 November 2006 14:00 (UTC +04:00)

Azerenerji JSC is negotiating with the Islamic development Bank (IDB) on the issue of financing the reconstruction of the Mingachavir Hydroelectric Power Station (HPS), Etibar Piriverdiyev, said the President of Azerenerji, Trend reports.

According to him, the implementation needs $95 mln. Protocols on the above-mentioned project have already been signed with the Bank. Works on the reconstruction of the Station, removal of the Electric Power Station control centre and one of its energy blocks that has been stopped, are expected to be implemented at the expense of the credit of IDB.

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