Baku, Azerbaijan, Nov. 6
By Maksim Tsurkov – Trend:
The share of Turkey’s Tekfen Insaat ve Tesisat A.S, general contractor for construction of the new administrative building of Azerbaijan’s state oil company SOCAR that was opened in 2016, is about $414.24 million according to the contract, said Tekfen report for the three quarters of 2017.
The report says that the contract on construction was fulfilled by 99.2 percent. The remaining work is estimated at almost $3.29 million.
As for the other projects, on which Tekfen is a contractor, as of Oct. 1, the company’s share in the contract on expanding the Sangachal terminal as part of the Shah Deniz Stage 2 project, is about $480.32 million. Meanwhile, the cost of the remaining work is estimated at $42.56 million. Tekfen’s share in the contract on construction of platforms as part of the Shah Deniz Stage 2 project amounted to $315.81 million.
The report says that the cost of construction of new administrative building of Azerbaijan’s Taxes Ministry totals $94 million. To date, the contract has been fulfilled by 6.5 percent, and it is planned to complete the construction until August 31, 2018.
Projects of Azfen JV, which is part of the Tekfen, are estimated at almost $787.84 million, and these projects have been implemented by 89 percent.
In general, the cost of work remaining in the company’s portfolio in Azerbaijan is estimated at $222.27 million.
Moreover, the volume of remaining work on Azerbaijani projects in Turkey, where Tekfen is a contractor, is estimated at $495.12 million.
In particular, Tekfen’s share in the contract for maintenance and modernization of the Baku-Tbilisi-Ceyhan pipeline exceeds $95 million. Until the completion of the contract, scheduled for December 15, 2017, it is expected to carry out work worth about $2.6 million.
The work on Lot 3 of construction of the Trans Anatolian Natural Gas Pipeline (TANAP), according to the report, is planned to be completed on December 25, 2017. As of Oct. 1, 2017, the contract worth $589.86 million has been fulfilled by 83 percent.
The construction of two compressor and four measuring stations of the pipeline, worth $461.49 million, has been completed by 32.8 percent and will be completed by May 31, 2019. The contract for construction of an office for TANAP management at a cost of $1.38 million has not yet begun to be implemented.
Tekfen’s work on construction of SOCAR’s Star refinery worth $155 million has been completed by 47.8 percent. The cost of the remaining work is estimated at $80.95 million.
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