SOFAZ receives more than $60 bln funds

Until now, SOFAZ received more than $ 60 billion, CEO of the company Shahmar Movsumov said at the round table organized by the Ministry of Industry and Energy in Baku.

Speaking about the oil strategy, which covers 20 years of statehood, Movsumov noted that during this period there were built Baku-Tbilisi-Jeyhan oil pipeline, Baku-Novorossiysk, Baku-Supsa pipeline, etc.

Movsumov said that the Fund was established in 1999 with $ 270 million. Currently, the fund’s assets reached $ 32 billion: “In general, SOFAZ received more than $ 60 billion during all its activity. Half of these funds were used in the implementation of Baku-Tbilisi-Jeyhan oil pipeline, Baku-Tbilisi-Kars railway, improvement of the living conditions of refugees, education of young people in foreign countries and etc”.


/APA/