BAKU, Azerbaijan, Nov. 8
By Anastasiya Savchenko – Trend:
The commercial activity of the steam turbine power plant at the Azerikimya production union of the Azerbaijani state oil company SOCAR is expected to be launched in the third quarter of 2020, spokesman for SOCAR Ibrahim Ahmadov told Trend.
"The steam turbine power plant project is a joint venture between SOCAR (51 percent) and Uniper (49 percent)," the spokesman said.
Ahmadov stressed that Uniper Technologies GmbH was involved as a general contractor as part of the project.
"More than 90 percent of the main equipment and materials have been already supplied to Azerbaijan,” the spokesman said. “Prokon company has been selected as the contractor for the construction and installation work. The foundation of the steam turbine power plant is under construction."
Ahmadov also emphasized that the total cost of the project is 28.5 million euros.
“This project makes it possible to efficiently use both electricity and steam, which makes it very cost-effective,” the spokesman said. “The project is financed by two German banks, namely, Bayerische Landesbank and AKA Ausfuhrkredit-Gesellschaft mbH, financing is insured by Hermes agency. The share of the funds attracted from the outside account for 85 percent of the total contract value."
Azerikimya Production Union became subordinate to SOCAR in 2010. The Production Union includes the ethylene-propylene plant, consisting of EP-300 and Polymer-120 units, an isopropyl alcohol production unit, a steam and electric power production unit, as well as a repair and construction department.
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