South Korean company to build power plant in Azerbaijan

Memorandum on the construction of power plants near Baku was signed on Thursday between Azerbaijan Investment company (AIC) and the South Korean Electric Power Corporation (KEPCO), the press service of Ministry of Economic Development of Azerbaijan.

The document reflects the creation of the operating company for the project with the participation of the signatories, has been fixed point that the percentage of AIC in the project will not exceed 25%.

KEPCO has already finished work on the feasibility study (FS) project. Investments in the construction of the station by private companies will be determined through feasibility studies.

Initial agreement oo general principles of the project was signed in September this year.

Topic: AIC, KEPCO