During the visit of the Azerbaijani government delegation to Saudi Arabia the sides agreed on a draft loan agreement for the financing of a project to improve and expand water and sanitation in the Khirdalan town. Turan was told by JSC Azersu (state operator for water and sewer services).
According to a preliminary intergovernmental agreement, the Saudi Fund for Development for this project will provide a $ 35 million discount.
The credit agreement is provided to modernize the water supply and sanitation in Khirdalan in the second half of this year.
The project is planned to provide water to the city of the Jeyranbatan complex water treatment plants. This is achieved by construct three reservoirs with a capacity of 20 thousand cubic meters each. In the town, 159 km of water mains will be built. They will also build a new sewer, which will direct the runoff of sewage waters to the Lokbatan sewage treatment station with a capacity of 200 thousand m3 per day in Lokbatan, Baku.
For gravity of the flow of water a seven-kilometer-long tunnel-type collector is built from Khirdalan to the village Khojasan. Today, the city sewage enters the Hovsan aeration station. Work is expected to be completed by the end of 2014. The project will improve the water supply of 100 thousand inhabitants Khirdalan.
Saudi Development Fund funds several water projects in Azerbaijan. - 08D-
Economics
-
Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
-
Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
-
Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
-
In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
Leave a review