TODAY.AZ / Business

US investors seeking $500mln project in Azerbaijan

18 May 2006 [08:50] - TODAY.AZ
US companies have expressed interest in building a large petrochemical facility worth half a billion dollars in Azerbaijan, Minister of Economic Development Heydar Babayev told journalists.

According to the U.S.-Azerbaijan Chamber of Commerce, the only condition laid out by potential investors so far is the provision of guarantees for uninterrupted supplies of raw material by the Azerbaijani government.

"We presume that $500-600 million will be invested in building the petrochemical facility. However, we now intend to conduct an independent study so that we do not rely just on what the investors say." Babayev said.

The Minister added that the terms of the project have not been discussed with the U.S. side yet.



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