The Azerbaijan State News Agency

ECONOMY

“AZERENERGY” SIGNED CONTRACT WITH GERMAN BANK

25.03.2004 [20:30]
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On March 25, the “Azerenergy” SC and German bank Bayerische Landesbank signed a contract, according to which, the bank is financial consultant of the project of construction of new combined-cycle plant in capacity of 400-500 mgw in Sumgait.

As is known, on results of the tender, the Finnish consulting company “Enprima” became the technical consultant of the project.

According to “Azerenergy” President Etibar Pirverdiyev, the construction contractor is to be announced late 2004.

In his speech, Ambassador of Germany to Azerbaijan Claus Grevlich stressed the special relations between two countries in different spheres, as well as in economic. The Ambassador noted that participation of German Bank in financing of the projects is demonstration of these relations. The Bayerische Landesbank is one of the leading five banks of Germany and the best in the filed of financing of similar projects.