CREDITOR TO BE ANNOUNCED SOON

23.08.2004 [22:48]
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In the course of the meeting of experts of Azerenergy and German bank Baerische Landesbank Girozental, which is the financial consultant for Sumgait electric power station construction project, the sides have thrashed out issues of crediting of the new electric power station construction in Sumgait.

The meeting hinged on the various methods of shaping the creditors' consortium and construction feasibility study developed by Azerenergy and Finnish company Enprima, which is the technical consultant for the project.

The negotiations with European financial institutions to credit the project may be considered successful. Leading financial organizations of Europe reportedly show interest in crediting projects in Azerbaijan, in particular, electric energy sector.

In pundits’ opinion, the main condition is stable political and economic situation in the country and positive experience of collaboration between Azerenergy and European banks.

CREDITOR TO BE ANNOUNCED SOON

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