EBRD to allocate credit for energy station reconstruction

According to the information, given from Azerenergy JC, work on reconstruction of energy blocs will be started at the beginning of next year.

Meanwhile, Mingachevir thermoelectric station was built in 80s and it's the biggest station in Azerbaijan with 8 energy blocs of 300 megawatt each.

But industrial power of the station weakened because of old equipments. Meanwhile, negotiations were carried on between EBRD and Azerbaijani government on allocation of credits. But Azerbaijan didn't satisfy with conditions of credit. Jean Lemierre, the president of EBRD, decided to continue negotiations, getting the credit conditions easier, after his visit to Azerbaijan.

Meanwhile, European Bank will allocate 115 million USD credit for Azerbaijan. And the rest of expenses were financed by Azerbaijan. Azerenergy also discusses construction of new electric station in Sangachal. According to the given information, area was chosen for this project.

/ANS/