SOCAR AURORA FUJAIRAH TERMINAL ATTRACTS NEW INVESTOR
Baku, September 26 (AZERTAC). A joint project of the State Oil Company of Azerbaijan (SOCAR) and Aurora Progress group, Fujairah oil storage terminal, has turned out to be attractive for local investors.
According to the head of Socar`s Investment Department, Vagif Aliyev, it is currently being considered if the local company from Abu Dhabi would join the project as a third investor.
"Together with Aurora, we have restructured the project. The preparatory work is currently underway and by the end of 2011 we plan to build a terminal with capacity of 340,000 tons."
SOCAR is represented in the project by its subsidiary Socar Trading SA, which forms a joint venture with SOCAR Aurora.
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