By January 1, 2016 total amount of SOCAR’s investments into the projects outside of Azerbaijan reached $4,486,900,000.
According to the company, the biggest amount has been invested into the company’s projects in Turkey, which totaled $3,334,300,000.
SOCAR’s investments in Switzerland totaled $414.5 million, in Georgia - $386 million, in Ukraine - $280.8 million and in Romania - $71.3 million.
The most capital intensive project of SOCAR in Turkey is TANAP gas pipeline, in which it owns 58%. Cost of the project is estimated at $9.3 billion. In the other gas pipeline project TAP with the cost of $6 billion SOCAR owns 20%. SOCAR has the following projects in Turkey, where it owns a packet of shares: Petkim Petrokimya Holding (about 57%), Star Refinery oil refinery, container terminal Petlim, SOCAR Power station, SOCAR Gas A.S. company supplying gas to the local market and SOCAR Fiber fiber-optical company.
In Switzerland, Romania and Ukraine SOCAR is involved in retail oil products trade and opened a network of petrol stations under SOCAR brand name.
In Georgia SOCAR is involved in retail trade of oil products as well as gas distribution and is the owner of the oil terminal Kulevi.—0—
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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