Bank Of Baku

Balakan hydropower plant privatized in Azerbaijan

Balakan hydropower plant privatized in Azerbaijan
# 26 January 2009 16:05 (UTC +04:00)
Baku. Rashad Suleymanov - APA-Economics. A local firm, Inter Enerji, has won a power plant privatization tender from Azerbaijan’s State Committee for State Property Management.
According to the investment program, the winner has undertaken invest AZN 525 000 in Balaken hydroelectric power within a year.
The investment will go to installation of a water intake facility, derivation channels, and different hydraulic equipment. According to the program, the plant will operate at the capacity of 304 kW/hper year.
Under the terms, Inter Enerji has pledged to transfer AZN 25 000 to the state budget and provide 2 000 government privatization vouchers.
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