Azerbaijan, Baku, Feb.17 / Trend E. Ismailov /
The State Oil Company of Azerbaijan (SOCAR) within its activity in Georgia intends to invest $ 75 million in 2011, a source at SOCAR Energy Georgia, which is SOCAR's subsidiary in this country, said. Previously it was supposed that SOCAR's investments in Georgia will exceed $50 million.
According to the source, about $ 25 million of the total investments envisaged under the projects in Georgia, will be spent for construction of gas stations.
The remaining part will be spent on the three-year gasification program, the construction of new administrative building of SOCAR's representative office in Georgia and other projects.
The number of SOCAR filling stations will be at least 95 units in 2011. Today, their number is 60 units.
Currently, SOCAR has six stations in Baku, but their number will be increased to 26-30 units in the future. The company opens filling stations in Ukraine, and is also working on opening stations in Romania.
Co-founders of SOCAR Energy Georgia are: SOCAR - 51 percent, Petro-Trans FZCO - 24,5 percent and Ivan Chkhartishvili - 24,5 percent
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