OPEC fund finances construction of Azeri power plant
VIENNA - A Vienna-based fund of the Organization of the Petroleum
Exporting Countries (OPEC) has allocated 20 million euros for the
construction of a power plant in Azerbaijan.
An agreement on disbursing a concessional loan for the construction of the Janub thermal power plant in Shirvan region of Azerbaijan was signed in the Austrian capital by Azerbaijani Minister of Finance Samir Sharifov and Director-General of the Fund for International Development (OFID) Suleiman Jasir Al-Herbish.
The allocation is OFID’s biggest infrastructure project implemented in Azerbaijan.
The 1050 MWt thermal power plant has been in operation since 1967 and is about to become inoperational. Therefore, construction of a new, 780 MWt power station has begun in the town of Shirvan. The groundbreaking of the power plant was held by President Ilham Aliyev in December 2007.
OFID is a multilateral development finance institution established in 1976 by the OPEC member countries. Its objective is to reinforce financial cooperation between OPEC states and other developing countries by providing financial support to the latter for their socio-economic development.
An agreement on disbursing a concessional loan for the construction of the Janub thermal power plant in Shirvan region of Azerbaijan was signed in the Austrian capital by Azerbaijani Minister of Finance Samir Sharifov and Director-General of the Fund for International Development (OFID) Suleiman Jasir Al-Herbish.
The allocation is OFID’s biggest infrastructure project implemented in Azerbaijan.
The 1050 MWt thermal power plant has been in operation since 1967 and is about to become inoperational. Therefore, construction of a new, 780 MWt power station has begun in the town of Shirvan. The groundbreaking of the power plant was held by President Ilham Aliyev in December 2007.
OFID is a multilateral development finance institution established in 1976 by the OPEC member countries. Its objective is to reinforce financial cooperation between OPEC states and other developing countries by providing financial support to the latter for their socio-economic development.
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