Allied Investment Company, a Company-Consultant of the European Bank for Reconstruction and Development (EBRD) is expected to hold the second stage of the presentation of the project on the installation of the petrochemical complex in the country. Anar Akhundov, the Executive Director of Azerbaijan Investment Company JSC (AIC), said that the project will be also presented to the Supervisory Board of the Investment Company, Trend reports.
During the first stage, the Company was engaged in appraising the efficiency of this production in Azerbaijan, since this field is rather capital-intensive. The second stage envisages the specialization of nomenclature of production, technological processes to be used for the future production, as well as determination of investors and sales agents, said Mr. Akhundov.
According to him, the circle of investors is expected to be made more concrete and restricted. Negotiations on this issue are expected to be launched soon. The area where the new complex to be installed will be determined after the strategic investors are determined. The preliminary cost of the project on the installation of the petrochemical complex in Azerbaijan has been estimated at $500 mln.