A loan agreement was signed on construction of “Pirshagi Wastewater Treatment Plant”

    A loan agreement was signed between the Government of Azerbaijan and the Export-Import Bank of Korea on construction of “Pirshagi Wastewater Treatment Plant”. The loan agreement was signed by Chairman of “Azersu” OJSC Gorkhmaz Huseynov and bank’s Executive Director Yim Seong-hyeog.

  At the signing ceremony Chairman of “Azersu” OJSC Gorkhmaz Huseynov highly appreciated participation of the 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.

   Executive Director of Export-Import Bank of Korea 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 the Government of Azerbaijan Korean Ex-Im Bank on construction of “Pirshagi Wastewater Treatment Plant” USD 43.5 mln will be allocated for construction of underground wastewater treatment plant with the capacity of 40,000m³/day.

   These funds will be allocated for 40 years (first 10 years on a 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 the Government of Azerbaijan.  

   Construction of “Pirshagi Wastewater Treatment Plant” will contribute to ecological security of the Caspian Sea. In the future the wastewater of Pirshagi, Kurdakhani, Mehemmedi, Nardaran, Digah, Mahstaga and other places will be treated in this plant.