Investment company, Korea's KEPCO agree power plant build
The Azerbaijan Investment Company (AIC) and Korea Electric Power
Corp. (KEPCO) on Thursday signed a Memorandum of Understanding on
building an Independent Power Plant in the Alat settlement, 60-70
km south of Baku.
Under the document, an operating company is to be set up to implement the project. The AIC's share cannot exceed 25%. The company's final decision on participation in the project will be based on the outcomes of a feasibility study which is about to be completed by KEPCO.
The Economic Development Ministry and KEPCO signed a memo on the project on building Independent Power Plants in Azerbaijan during President Ilham Aliyev's visit to Korea in April.
The Alat settlement was designated to host the facility due to high demand for electricity in the Absheron Peninsula and the infrastructure already available in the region for its construction.
KEPCO, the world's fifth largest energy producer, is engaged in building power stations in China, Philippines, Indonesia, the United States and other countries. The company applies cutting-edge technologies.
Under the document, an operating company is to be set up to implement the project. The AIC's share cannot exceed 25%. The company's final decision on participation in the project will be based on the outcomes of a feasibility study which is about to be completed by KEPCO.
The Economic Development Ministry and KEPCO signed a memo on the project on building Independent Power Plants in Azerbaijan during President Ilham Aliyev's visit to Korea in April.
The Alat settlement was designated to host the facility due to high demand for electricity in the Absheron Peninsula and the infrastructure already available in the region for its construction.
KEPCO, the world's fifth largest energy producer, is engaged in building power stations in China, Philippines, Indonesia, the United States and other countries. The company applies cutting-edge technologies.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
Subscribe
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!