TODAY.AZ / Business

Project of private electric power station in Alyat, Azerbaijan, estimated at $1 billion

07 February 2008 [16:30] - TODAY.AZ
Investments into the construction of private electric station with a capacity of 750 MW in Alyat settlement of Azerbaijan is estimated by Korean KEPCO at $1 billion.

The due announcement was made by Asker Alekperov, chief of department for foreign investments and coordination of programs of technical assistance under Azerbaijan's Ministry of Economic Development.

He said the company proposes the project regulation for 25 years, which is an accepted world practice. At the dame time, the issues, regarding mechanism of distribution of generated electric power  and tariffs on it, as well as fuel, which will be purchased for generation, are still being discussed", Alekperov noted.

According to him, Azerbaijan is discussing proposals, put forward by KOPCO, in cooperation with consortium of consultants BNP Paribas/Allen&Overy/Mott MacDonald and Azerbaijani McGregory, attracted for the purpose.

Response proposals of the Azerbaijani side to be presented to KEPCO in a couple of weeks, have also been worked out. The consultants of Koreans are HSBC bank and a legal company.

It should be reminded that the Memorandum on intentions to participate in the said project with a 25% share of the Azerbaijani Investment Company, was signed on November 15.



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