Nobody will be able to answer this question today. But on December 29, 2009 at the ceremony of the tenth jubilee of the State Oil Fund at Heydar Aliyev avenue foundation of the new office of the Fund was laid and it was announced that the building will be ready in mid-2013.
31 months has passed since that time, but information about completion of construction is not available yet. The contract for construction of a new SOFAR office was concluded with the contractor - Belgian N.V. Besix S.A. - only after 24 months on December 20, 2011. According to official information, the contract cost of the project is 84,916 million Euro. SOFAR does not announce the date of opening of its new headquarters. One cannot say that construction is coming to the end. The height of the building will be 117 meters (140 meters together with lighthouse) and total area - 35,834 sq.m. The building will have 7 elevators, 2-storey underground parking lot and 24 floors.
Judging by all, the Oil Fund will be able to move to its new office not earlier than 2016. Now it is located in Dalqa Plaza business centre.-0-
Economics
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
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