AZERENERGY, ADB AGREE ON DRAFT CO-OPERATION AGREEMENT

31.10.2008 [15:33]
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Azerbaijan`s largest electricity company, Azerenergy, and Asian Development Bank (ADB) has agreed on a draft co-operation agreement aimed at increasing domestic electricity supply and optimizing power generation resource use in the country.

According to Vice President of Azerenergy, Marlen Asgarov, the 5-year agreement will be singed later this year.

The project`s estimated cost is $240 million, of which $160 million were allocated by ADB, while $80 million by Azerenergy.

The project`s consulting services will be provided by Swiss company Entec.

AZERENERGY, ADB AGREE ON DRAFT CO-OPERATION AGREEMENT

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