“AZERKIMYA” SELECTS FINANCIAL CONSULTANT TO ESTABLISH PETROCHEMICAL COMPLEX IN AZERBAIJAN
French bank “Societe Generale” has won a tender announced by the State-run company “Azerkimya” to select the international financial consultant.
In accordance with President Ilham Aliyev’s instructions to develop petrochemical and chemical industries in the country with attraction of scientific potential of Azerbaijan and highly-qualified specialists, Azerbaijan government is continuing its efforts to establish a new petrochemical complex based on local raw material base and most progressive technologies.
Azerkimya has selected the international consulting financial organization in order to analyze financial, marketing and investment indicators based on the feasibility study, assessment of its conformity with requirements of international financial institutions, project make-out, development of financial and investment model meeting Azerbaijani laws and possible strategy of financing..
Societe Generale was announced a tender winner as the company made the most favorable bid meeting the above-mentioned criteria.
Simultaneously the English company "Nexant" is completing technical work on preparation of documentation of the feasibility report in which will be reflected the choice of optimum variant of a new petrochemical complex of Azerbaijan, definition of technical and economic parameters of the project, rational use of raw material and energy carriers, expansion of assortment of production, improvement of its consumer qualities and ecological parameters of manufacture, increase of consumption opportunities.
Being a world-known financial institution, the French bank "SOCIETE GENERALE" also successfully participates in many large regional oil, gas and power, as well as other infrastructure projects of the country.
This new petrochemical complex, which will be created on the basis of the advanced world technologies, will transform the Azerbaijan Republic into the important manufacturer of petrochemical production in region. And it, in turn, will promote opening of versatile workplaces, preparation of highly skilled experts in the country, in other branches of national economy of republic - the quickly developing fields of construction, public health services, machine building, agriculture, mechanical engineering, automatics and manufacture of household appliances - new spheres of manufacture meeting the advanced world standards and service.
“Realization of the given project will become a new triumph of the policy of President Ilham Aliyev in the region from the Caspian up to Mediterranean, will provide for many years leadership of Azerbaijan in the chemical and petrochemical industry`, the president of “Azerkimya” State Company, Member of Parliament, professor Majid Karimov noted.
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