Societe Generale to Analyze Economic Aspects for Construction of New Petrochemical Complex in Azerbaijan
Azerbaijan, Baku / " / The work on establishment of the new petrochemical and chemical industry complex, which will meet upgrade standards, as well as draw of specialists to the project have been continued in compliance with the order by the Azerbaijani President Ilham Aliyev.
The international tender announced by the State Azerchemistry company and directed to analyze the financial, marketing and investment index on the base of feasibility study documents was summed up. The tender was announced in order to assess the project meets demands of international financial institutions, self-repayment of the project, development of financial and investment model and possible financial strategy in compliance with the Azerbaijani legislation, develop of proposals to analyze financial aspects to choose international consultative financial structure. The French SOCIETE GENERALE announced winner of the tender.
The British Nexant company is to finish technical work to develop feasibility study documents. The documents will reflect choice of the new optimal petrochemical complex in Azerbaijan, as well as to define technical-economic index of the project, rational use of raw materials and energy carriers, expansion of productions and improvement of quality of production.
SOCIETE GENERALE participates in biggest regional projects in oil, gas, energy and infrastructure spheres. The new petrochemical complex makes Azerbaijan one of the manufacturers of refinery productions in the region. Establishment of such a complex enables Azerbaijan to create new manufacturing spheres and service to produce equipment for construction, healthcare, agriculture, refinery and furnishings which will meet international standards, as well as to open new jobs and train of high quality professionals. The president of the Azerchemistry company Majit Karimov said that the implementation of the project would provide the country the leadership in chemical and petrochemical industry in the Caspian and Mediterranean Seas for a long period of time.