Company Azerenergy informed Trend that the construction work in the territory of Sumgayit Hydro-power Grid, where a 506MW gas-steam device is being installed, is nearing completion. The assembly of the equipment will commence in due course.
At present a water intake station has been built on the Caspian coast to receive water for cooling. In addition, a 3 km length pipe of immense diameter has been laid. New pipes of glass fiber plastic were used (for the first time in Azerbaijan) during the construction of this pipeline. The greater part of the work of dismantling the old equipment at the Thermo-power station has also been completed.
The project on the construction of the gas-steam rig is estimated at EUR 257 mln. A finance agreement on the project was signed with Bayern LB bank, Germany, Societe de General, France, and BNP Paribas, France. All three banks will take on identical loans with an interest rate of Libor +0.55%.
Azerenerji signed an agreement with German company Siemens on the construction of a gas-steam device in Sumgayit. The contract covers the construction of a 506MW gas-steam device in the territory of Sumgayit City.