Baku, Azerbaijan, July 19
By Emil Ismayilov - Trend:
The State Oil Fund of Azerbaijan (SOFAZ) has announced an open tender for procurement of services for insuring its new administrative building in Baku and other technical buildings located in its territory.
The tender is for insuring a property in the 22-storey administrative building of SOFAZ, located in Baku, Nizami district, Heydar Aliyev Avenue 111A, the voluntary insurance of movables and compulsory insurance of civil liability for the operation of real estate, SOFAZ tender commission said.
All those interested to participate in the tender are invited to submit an application and other documents till 18:00, August 22. 2014.
The tender bids should be submitted till 18:00, September 1 to the following address: Baku city, Neftchilar Avenue 24.
Contractors must have a minimum of ten years of experience in the sphere of health insurance, as well as technical and financial capabilities, management skills and etc.
For more information about the tender rules please contact:
Tel.: (+994 12) 498 77 53 (ext. 135)
Fax: (+994 12) 498 17 60
Contact person: Gulnar Mashadiyeva
E-mail: [email protected]
The project of the new building of SOFAZ was worked out by the İnter Art Etudes company, while the U.S. AECOM company became the consultant for the project. The new building is being constructed by Belgian N.V.Besix S.A. company.
The total cost of the project is around 85 million euro.
SOFAZ was established in 1999, and its assets at that time amounted to $271 million.
The assets of SOFAZ have increased by 2.07 percent compared to early 2014 and exceeded $36.618 billion as of April 1, 2014.
Based on SOFAZ's regulations, its funds may be used for the construction and reconstruction of strategically important infrastructure facilities, as well as solving important national problems.
The main goals of the State Oil Fund include: accumulation of resources and the placement of the fund's assets abroad in order to minimize the negative affect on the economy, the prevention of "Dutch disease" to some extent, promotion of resource accumulation for future generations and support of current social and economic processes in Azerbaijan.