According to him, IBA participates in construction of plant and allocated funds: “It’s not only about the development of oil sphere, but about development of oil-chemistry industryâ€.
Remind that, EBRD and Azerbaijan Methanol Company have signed a $120 mln- loan agreement and an agreement of intent on construction of methanol plant and 5 plants producing gases in the 25 ha area in Garadagh region. The project was estimated at $1.1 bln. 33% of funds wil be allocated by EBRD, others – by other banks.
Total value of plant’s construction to be constructed at first stage is $300 mln. Second is $400 mln, third - $250 mln, fourth - $30 mln, fifth – $100 mln, sixth - $30 ml.
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