Azerbaijan to construct new petrochemical complex

In the first quarter of 2013 it is planned to start construction work within creating a new complex for oil and gas processing and petrochemical production in Azerbaijan, President of the State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev told journalists on Tuesday.

"During this year it is planned to complete all tender procedures,"Abdullayev said.

"According to calculations, the amount of investments in the new project will amount to $14 billion (+ / - 30 percent)."

He said more accurate calculations will be known after the completion of project work.

According to the plans, more than 5 billion investments are planned to be attracted at the expense of export banks of other countries.


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