French bank to invest in Azerbaijani infrastructure
Azerbaijan, Baku, July 22 / Trend , U.Ismayilova/
The limit of the French corporate and investment bank Societe Generale on Azerbaijan is approximately $800 million, the bank's regional representative Teyba Guliyeva said.
"More than a half of this amount has been used," Guliyeva said.
Simultaneously the bank's regional representation has the projects which are planned to finance together with local banks (International Bank of Azerbaijan and others), for private companies, she added.
Societe Generale as many international banks, prefers projects which involve import of equipments, new technologies and others, Guliyeva said.
"We do not plan to participate in giant trade operations, but finance structuring for production," the bank's regional representative said.
The bank also plans to implement large infrastructure projects in Azerbaijan.
"We consider the deals for over $500 million and come forward both as a financing party and an organizer of a pool of banks for financing, giving preference to project financing," Guliyeva said.
Azerbaijan is the most priority for Societe Generale in the region, she added.
The representation of Societe Generale functions in Azerbaijan and through it the bank considers projects in private and State sectors. Societe Generale has been operating in Azerbaijan since 1998 through its regional representative offices covering Azerbaijan, Georgia and Turkmenistan.
At present investing in the banking sector is carried out through various instruments, including syndicated lending, through trade, project, export financing.
The bank has successfully participated in a number of key strategic projects in Azerbaijan, which are the projects on a full-scale development of the Azeri-Chirag-Gunashli, construction of the pipeline on the route Baku-Tbilisi-Ceyhan pipeline, where Societe Generale acted as mandated lead organizer. Societe Generale acted as co-lead organizer in the projects to develop the Shah Deniz gas field and the construction of a 570-megawatt power plant in Sumgayit.
The largest investment of Societe Generale is still the BTC project, where his participation was 65 million dollars with a total loan of 750 million dollars.
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