A consultant of the Azerbaijani government, Allied Investment, set up the data collection for the development of a feasibility study for the construction of a big petro-chemical complex in Azerbaijan.
The Executive Director of the Azerbaijani State Investment Company, Anar Akhundov, said that taking into consideration the experience of such specialists, the report to be developed by the company seems to be interesting for Azerbaijan.
They have relevant experience in the establishment of petro-chemical in the countries of the Persian Gulf. Moreover, well-experienced specialists have been attracted to the РІ Allied Investment from different petro-chemical companies. It has offices in Washington and Dubai, Akhundov underscored.
It will depend on the volume of data that the AIC will process upon the completion of work over a report on existing situation in this market. Such analysis is needed in order not to repeat the mistakes of other countries. For instance, the South America, where the infrastructure was built without communal issues and therefore, it did not justified itself, the head of the AIC noted. In this respect first of all it is necessary to carry out work with the future winner and potential investors.
An initiative on the establishment of the complex in Azerbaijan came from the U.S. companies. The approximate volume of investment amounts to $500m-$600m.