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—
Economics
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In Azerbaijan, there has been an observed increase in the price of flour. In May, a 50-kilogram sack of flour cost 25-26 manats, but now it has risen to 29 manats. This increase in the price of flour is also reflected in the data from the State Statistics Committee (SSC).
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Azerbaijan and Israel have engaged in discussions to advance cooperation in the field of green energy, Azerbaijan's Energy Minister Parviz Shahbazov announced on the social network "X." During the meeting with Israeli Minister of Regional Cooperation David Amsalem, both sides reviewed ongoing cooperation in the hydrocarbon sector, discussed renewable energy projects currently being implemented in Azerbaijan, and explored prospects for enhancing bilateral energy ties.
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The Milli Majlis of the Republic of Azerbaijan has introduced significant amendments to the nation’s food safety law, aiming to enhance regulation over the production and importation of alcoholic beverages, particularly vodka. The amendments, ratified by President Ilham Aliyev, are intended to ensure compliance with stringent safety and economic criteria, reflecting the government's commitment to maintaining public health standards and fiscal accountability.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved amendments to the list of specialized medical institutions authorized to perform donor organ transplants. The changes, guided by the eighth paragraph of Article 119 of the Constitution of Azerbaijan, were announced in resolutions No. 337 and No. 338, signed by Prime Minister Ali Asadov.
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