Azerbaijan, IDB sign loan agreement
The Azerbaijani government and the Islamic Development Bank (IDB)
signed a 150-million-euro loan agreement Thursday to build a waste
processing plant in the capital Baku.
The loan will be allocated for 15 years with a grace period of three years.
The plant's total construction cost is estimated at 346 million euros over a 36-month period. Construction is currently financed at the expense of budgetary funds.
The construction contractor is the French company CNIM. The company has extensive experience in the field, having built over 120 household waste incineration plants throughout the world. The plant will be built over three years, and will reduce garbage in Baku ten-fold.
Today, 80 percent of all household waste in Baku and on the Absheron Peninsula is transported to a landfill on the plant's future construction area - called Balakhani - for open dumping.
The Azerbaijan signed a turn-key contract with CNIM in 2008. The contract will be implemented on a design-build-operate basis.*
The loan will be allocated for 15 years with a grace period of three years.
The plant's total construction cost is estimated at 346 million euros over a 36-month period. Construction is currently financed at the expense of budgetary funds.
The construction contractor is the French company CNIM. The company has extensive experience in the field, having built over 120 household waste incineration plants throughout the world. The plant will be built over three years, and will reduce garbage in Baku ten-fold.
Today, 80 percent of all household waste in Baku and on the Absheron Peninsula is transported to a landfill on the plant's future construction area - called Balakhani - for open dumping.
The Azerbaijan signed a turn-key contract with CNIM in 2008. The contract will be implemented on a design-build-operate basis.*
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