Central Bank loan to be attracted for creation of new petrochemical complex in Azerbaijan

Baku, Azerbaijan, Mar.19

Trend:

SOCAR (State Oil Company of Azerbaijan) intends to attract a loan from the Central Bank of Azerbaijan (CBA) within the framework of the project to create a new oil and gas processing petrochemical complex (OGPC) in Azerbaijan, President of SOCAR Rovnag Abdullayev told reporters March 19.

He made the remarks during the opening of a new office building of “Neftgaztikinti” trust.

He said that SOCAR intends to attract a loan of about 1 billion manat.

“The loan will be attracted for implementation of the first phase of the OGPC project,” said Abdullayev. “We intend to attract about 1 billion manat for 10 years with an option to extend the loan repayment period for five years.”

Edited by CN

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