Bank Of Baku

Azerbaijan works on power network reconstruction program

Azerbaijan works on power network reconstruction program
# 28 March 2007 13:10 (UTC +04:00)
Azerenergy, State Electricity Company, has sent the Government the draft program aimed at reconstruction of power grids, networks and stations in the country, said Company Vice-President Marlen Asgarov.
He said the low-voltage system has become obsolete for 70 years.
“Reconstruction works require a great amount of funding. We will need some $300 million. This can come from the state budget.” he noted.
He added that some part of the funding can also be borrowed from foreign banks. /APA-Economics/
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