Future Community Investments Budget under SCP & BTC Projects to Comprise $10m

Oil&Gas Materials 29 September 2006 10:43 (UTC +04:00)

The Community Investments Program (CIP) under the South Caucasus Pipeline (SCP) and Baku-Tbilisi-Ceyhan (BTC) was compiled in Azerbaijan into a program of future community investments from 2007 to 2010 following the exploitation of the BTC, Trend reports.

The BP Azerbaijan Manager for Pubic Relations & Public Investments, Ariana Aliyeva, said that the budget of the program has been compiled and the annual capital expenses will comprise $2.5mln. The total budget of the project is $10mln.

Major objectives and tasks of the new program are to support constructive interaction with the population through the implementation of community development initiatives, to develop the potential of national NGOs, support initiatives on economic development, boost interaction amongst the population and local authorities.

In accordance with the new strategy on distribution of projects, 70-80% of them will be awarded to companies currently participation the projects, while 20-30% - new NGOs on tender basis.