Finance Minister Samir Sharifov signed March 11 on behalf of a credit agreement for a $ 43.5 million project to build a waste water treatment plant in the village of Baku Pirshagi. The Korean side the document was signed after that country in Baku Choy Su Kin.
The report noted the Ministry of Finance that the credit was issued Cooperation Fund for Economic Development Export-Import Bank of Korea. The loan was granted under 0.2 % per annum for 40 years , the first 10 of which will be discounted.
Total amount of work on the construction of waste water treatment plant is $ 60 million remaining funds will be financed from the state budget of Azerbaijan.
Power construction of 40 thousand m3 per day. Purified water is used for irrigation of agricultural land .
We note that in October 2011, JSC Azersu and Korea International Cooperation Agency signed a grant agreement for the project of reconstruction of water supply and sanitation in the village Kurdakhani Baku. The size of the grant was $ 26.18 million project involved the construction of two reservoirs , aqueducts ( 24.8 km ) and sewer lines ( 24.8 km). 08D
Economics
-
Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
-
The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
-
On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
-
Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
Leave a review