Azerbaijan, Baku / Trend corr I. Khalilova / Azerbaijani Investment Company (AIC) has begun talks with potential investors in order to involve them in the project of constructing a new oil terminal in Garadag region of Azerbaijan, Executive Director of the company, Anar Akhundov, said on 23 May.
"AIC assists the major shareholder of the project, the Gafgaztransservis company, in stimulation of credits for construction of the terminals," Akhundov said. The company was established by the Azersun Holding company. Negotiations with the Islamic Development Bank, European Bank of Reconstruction and Development and other financial organizations are in progress.
The AIC will receive up to 25% of the stock.
The US Nexand company is expended to produce an extended business plan by the end of May.
"We are interested in the participation of a maximum number of investors," the head of the AIC said. The terminals will be constructed 4km from the operating Sangachal terminal of BP.
The volume of the storehouse of the terminal will make up 200,000cm with expansion capacity of up to 600,000cm. The railway transportation capacity will comprise 25mln tons of oil per year, the trans-shipment capacity 50mln tons per year. The terminal will be linked to the Baku-Tbilisi-Ceyhan (ВТС) pipeline.