Abu Dhabi Fund for Development finances power station construction in Azerbaijan

Finance Minister of Azerbaijan Samir Sharifov, on behalf of the government of Azerbaijan, and Director General of the Abu Dhabi Fund for Development Mohammed Saif Al Suwaidi signed a loan agreement here on Wednesday to finance the Cenub project.

The Abu Dhabi Fund will set aside $60 mln to build a new 780-megawatt combined-cycle power station and 220-kilovolt transmission lines in the town of Shirvan. The money will be spent on purchase of equipment and relevant work.

The station will replace the old one, which will be demolished.


/AzerTAc/