Azerbaijan negotiates with foreign banks to construct power plant in Turkey

Baku. 5 November. REPORT.AZ/  The State Oil Company of the Azerbaijan Republic (SOCAR) holds negotiations with Turkish banks, EBRD, Eximbanks and Chinese banks for financing power plant in the capacity of 300 MW (Petkim cogeneration plant - Petkogen) considered to produce coal-fired power, which construction planned in Aliagha region of Izmir city of Turkey.

Report informs, Zaur Gahramanov, Deputy Chairman of SOCAR's Investment Department stated at II Caspian Technical Conference-Exhibition of the Society of Petroleum Engineers  (SPE) held in Baku.

Potential investors' interest in the project is great, Z.Gahramanov said. According to him, all tenders to be completed till the end of this year and construction works launched from next year.

Construction works will end within 2-2,5 years, Company's official said: It is SOCAR's first step in the electricity sector. SOCAR becomes not only oil and gas company, but also electricity.