Today.Az » Business » SOCAR acquires 50%-stake in EUPEC PipeCoastings Azerbaijan JV
07 December 2006 [13:39] - Today.Az
SOCAR announced that it has completed acquisition of the 50-percent participating interest in EUPEC PipeCoastings Azerbaijan from German EUPEC PipeCoatings GmbH.
The joint venture was renamed Caspian PipeCoating, APA reports. Now SOCAR shares the joint venture with Azpetrol Holding (50%), the other co-founder. $15m has been invested in the venture and German and US-made equipment was installed.
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