Petrovietnam and Azerbaijani company to launch joint venture to refine oil sludge in Vietnam

Business Materials 20 June 2009 14:01 (UTC +04:00)

Azerbaijan, Baku, June 20 / Trend /

Ekol muhendislik xidmetleri (engineering services) and Vietnamese Vimexco signed a cooperation contract in Vung Tau in Vietnam, Ekol said.

Under the contract, a working group will be established soon. The contract provides for direct participation and assistance of the Vietnamese and the Azerbaijani specialists in founding a joint venture by Petrovietnam and Ekol. The JV will engage in processing sludge, sewage and industrial wastes in Vietnam. The contract takes into account issues of security of equipment used in the Vietnamese oil industry, planting trees in Baku which perform specific functions and opening Baku restaurant in Vung Tau.

The main purpose of Ekol is to export their ability, to get foreign orders and to work abroad, said earlier Director General of CJSC Ekol Soltan Aliyev said.

Earlier in April, the delegation of Vimexco paid an official visit to Baku and considered all the ongoing projects of by Ekol.

Ekol Muhendislik Xidmetleri was co-founded in March 2006 to solve ecological problems in Absheron by: Socar (51 percent) and Lancer S.A. Services (49 percent).