Baku, Dec 22, IRNA -- Iran is to extend $75 million of low
interest loan to Azerbaijan, said the Azeri company 'Azar Energy' in Baku on
Wednesday.
The loan aims to rectify the problems of the southern section of
the country. The company also said that here energy problems of the
area will be removed in two years time.
It further called the discussions between Baku and Tehran as
satisfactory saying that the fund is to be allocated to renovation of
electricity posts which transfer electricity and purchase of other
needed equipment.
In the latest news on the two countries cooperation in the energy
sector Iranian ambassador to Republic of Azerbaijan in a meeting with
Azerbaijan's Fuel and Energy Minister Majid Karimov in December
stressed the enhancement of bilateral ties in energy.
Referring to both countries' enormous capabilities in the oil,
gas and electricity sector, Afshar Soleymani said providing facilities
for producing solar power as well as the construction of other
energy-related of power stations are parts of efforts to expand
bilateral ties.
Soleymani termed the stability in the region as an effective
factor in the extension of relations and evaluated the bilateral
cooperation in the energy sector in line with mutual economic
interests.
He further voiced Iran's readiness to help Azerbaijan develop its
energy sector.
Azeri minister of fuel and energy pointed out Iran's capability in
the oil and gas industry, supporting the enhancement of ties between
the two countries.
Karimov referred to the current relations in the electricity
sector between Azerbaijan and Iran as a successful example and said
"the regional cooperation regarding the fuel and energy sector
should be reinforced."