Saudi development fund to allocate $35 million to Azerbaijan

In order to conduct negotiations with the Saudi Fund for Development on the ‘Credit Agreement on reconstruction and expansion of water supply and sewerage of Khirdalan city’ project, an Azerbaijani delegation headed by the Deputy Chairman of the Foreign Investments of Azersu, Ilgar Tagiyev, was on a business visit to Ar-Riyadh (Saudi Arabia).

According to the APA agency, during the visit the sides have finalized the agreement and final protocol. In accordance with the loan agreement, the Saudi Fund for Development will provide $35 million to Azerbaijan for the project.

Reconstruction of the water supply and sewerage of Khirdalan will begin in the second half of 2013.

The project will create a water supply system with a total length of 159 km. Drinking water in the city will be supplied from the Jeyranbatan treatment plant. Water will flow into three new reservoirs (‘+82 Masazir’, "+120 Masazir’ and ‘+118 Absheron’) with a capacity of 20 thousand cubic meters each, and then will flow naturally to the city.

Adapted from: Vestnik Kavkaza