During the first semi-annual period, 2016 SOCAR hopes to finish talks with the Japanese companies on the first stage of construction of the oil and gas refinery and petrochemical complex (OGPC) in Garadag, 45 km south of Baku, said SOCAR President Rovnag Abdullayev.
“The feed-project is already close to completion. We have been also negotiating with the governments, Ex-Im Banks and Japanese companies to implement this project. The talks will most likely be completed in the first half of next year and afterwards we will start works,” he added.
Abdullayev added that talks are in progress “with many Japanese companies, but the one offering the vest proposal will be selected.”
It was earlier reported quoting SOCAR Vice President Suleyman Gasymov that SOCAR has offered Japanese companies to become investors-partners of the first stage of OGPC construction.
Cost of the first stage of OGPC construction is estimated at $7 billion. Total cost of the first stage of construction with payment of credit interest rates will be $8.45 billion.—0—
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