In the near future Austrian Poerner GmbH company will start design of a new bitumen plant at the Baku-based oil refinery named after Heydar Aliyev, reads SOCAR’s information posted on its web site.
The same source said that the negotiations have been already conducted.
“After the talks we have held a meeting with participation of representatives of SOCAR, oil refinery and Fluor and Poerner companies. In the near future German company will start design of the plant construction,” said the same source.
Construction of the bitumen plant with the capacity of 400,000 a year is a part of the project of the Heydar Aliyev oil refinery upgrade.
“After the upgrade all types of fuel produced at the oil refinery will be up to Euro-5 standard and Azerkhimiya plant will be supplied with high quality raw material (ethane-ethylene fraction, propane-propylene and butane-butylene,” said the same source.
Upgrade of the Heydar Aliyev oil refinery will be completed by the end of 2018. Capacity of the oil refinery after the upgrade will be increased from 6 to 7.5 million tons of oil a year. The cost of upgrade is estimated at $1 billion.-0—
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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