INT’L FINANCIAL STRUCTURES KEEN IN COOPERATION WITH POWER ENGINEERS OF AZERBAIJAN

29.07.2004 [12:16]
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As was informed correspondent of AzerTAj in the press-service of the “Azerenergy” JS Company, successful negotiations are underway on attraction of the creditor for construction of new power station in Sumgait. The held business negotiations between national power departments of Azerbaijan and German Bank Baerische Landesbank Girozentral give the basis to expect for the fast solution of this important question.

Besides, there is a certain interest on the part of foreign banks in participation in energy projects of Azerbaijan. Evidence to that are successful negotiations with the Japanese Bank for International cooperation (JBIC) on opportunity of crediting of construction of the second combined-circle installations on the state district power station "Severnaya”.

Besides work with a view of reception of means for modernization and reconstruction of the power objects of Republics, the “Azerenergy” JS systematically carries out a policy of stable return before the received credits. In these purposes, up to the end of the current year it is supposed to pay about 30 million US dollars on account of repayment of the credits received in various years on realization of energy projects.

All these promote hardening of power safety of Azerbaijan, qualitative power supply of the population and development of economy.

INT’L FINANCIAL STRUCTURES KEEN IN COOPERATION WITH POWER ENGINEERS OF AZERBAIJAN

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