SOCAR to finish first stage of filling station construction in Azerbaijan in May 2010
Kazakhstan, Astana, Sept. 26 / Trend , K.Konyorva, E.Ismayilov/
Construction of 26 filling stations under the brand of the State Oil Company of Azerbaijan Republic (SOCAR) will end in May next year, the head of SOCAR Rovnag Abdullayev said.
According to another senior representative of SOCAR, the company will open nine filling stations under the brand name of the company the end of the year in the country will open.
"Currently, 26 filling stations are being built. And now we are working to create a SOCAR brand in Azerbaijan," said Abdullayev earlier.
An official of SOCAR said earlier that for this project, was established a joint venture SOCAR Petroleum (SOCAR and A.P. Petroleum). The authorized capital of company totals $10 million that was invested by SOCAR. The joint venture will engage in distribution activities in Azerbaijan.
According to the current development plan, initially it is planned to open 26 filling stations, but in the future, taking into account the overall development, their number will be increased.
The joint venture already operates, and at the expense of credit resources and its turnover, it will gradually build petrol stations.
Currently SOCAR owns a network of petrol stations in Georgia (more than 20), and their number is expected to be brought to 60 over next few years.
Today the company produces oil and refine it in two own refineries, with the total processing capacity of about 20 million tons. Anually the refinery processes 6.7 million tons of oil of SOCAR.
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