The tender procedure, after which the construction contractor for the Neftchala industrial quarter (the first one in Azerbaijan) was determined, has been completed. According to the customer (JSC Azerbaijan Investment Company), the construction work is entrusted to LLC M-Naf, which won the tender.
This is not the first success of a limited liability company - before it received an order for laying roads in the territory of the Sumgayit industrial park at a cost to the customer (again AIC) at 47 million manats.
The tender procedure is completed on September 2. Earlier - 6 April, MDM Ltd. signed a contract for development of design estimates in the framework of the industrial design of the Neftchala district.
The industrial park will be located on 10 hectares, and AIC will be its organizer and regulator. --17D-
Economics
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
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Azerbaijani President Ilham Aliyev hosted Georgian Prime Minister Irakli Kobakhidze on Friday for high-level talks aimed at further developing the strategic partnership between the two neighboring countries in the South Caucasus.
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