Azerbaijan, Baku, Sept. 15 / Trend , S.Aliyev/
By late 2009, the State Oil Company of Azerbaijan Republic (SOCAR) plans to launch the first filling stations in Azerbaijan under its own brand, a senior representative of the company said on Sept. 15.
"The design and construction work are currently underway," said the SOCAR representative.
SOCAR Petroleum Joint Venture (SOCAR - 51 percent and AP Petroleum - 49 percent) was set up to implement the project. The authorized capital is $10 million that were invested by SOCAR. The joint venture will be distributor in Azerbaijan.
Initially, it is planned to open 26 filling stations, and their number will increase in the future, taking into account the overall development.
At present, SOCAR owns a network of filling stations in Georgia, whose number is expected to reach 60 units in the next few years.
At present, the company produces oil and refines it at the two own refineries, the total processing capacity is about 20 million tons. Each year, the refinery processes 6.7 million tons of SOCAR's oil.
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