Azerbaijan, Baku /corr Trend I.Khalilova / Vilayat Zahidov, Anar Akhundov, Azerbaijan Investment Company (AIC) Executive Director, informed that a consultant of the European Bank for Reconstruction and Development - Allied Investment Company, plans to arrange on 6 March a presentation of the second stage of the project on establishment of a petro-chemical complex in Azerbaijan for members of the AIC Observation Board. Such procedure is held after every stage and they will number three.
The second phase envisaged definition of more detailed description of a nomenclature of products of potential interest, which can be manufactured in the petrochemical complex, technological processes. The approximate circle of strategic investors and buyers (investors and buyers are one and the same in the petro-chemical sphere).
According to Akhundov, talks with the investors will be carted out as soon as they are defined. Zone of establishment of a new complex will be defined after the definition of strategic investors.
Initial cost of the project on establishment of a petro-chemical complex is $500mln. The final estimation will be carried out in the third phase of the project which is scheduled to begin in March 2007.
In the first stage Allied Investment Company estimated the efficiency of the production in Azerbaijan.