Azersu and Korean bank sign agreement

Baku: Agshin Rafigoglu; Azerbaijani government and Korean Ex-Im Bank has signed a loan agreement on construction of Pirshaghi Wastewater Treatment Plant. The agreement has been signed by Azersu Chairman Gorkhmaz Huseynov and bank’s Executive Director Yim Seong-hyeog.

Huseynov highly appreciated participation of Korean government and companies in the investment projects in Azerbaijan. He also said 70% of works on reconstruction of Kurdakhani water supply project has been carried out.

Yim Seong-hyeog expressed his satisfaction with cooperation with Azerbaijan and said his bank is ready to support infrastructure projects.

According to loan agreement signed between Azerbaijan Korean Ex-Im Bank on construction of Pirshaghi Wastewater Treatment Plant, $ 43.5 mln will be allocated for construction of this plant with the capacity of 40,000m³/day.

These funds will be allocated for 40 years (first 10 years – as preferential loan) with the annual interest of 0.2%. total worth of the project is $ 64.2 mln. remaining part of the project will be financed by Azerbaijani government.

The plant will contribute to ecological security of the Caspian Sea.

SOURCE: AZERI PRESS NEWS AGENCY