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Azerbaijan identified areas in Baku to be initially invested in for reconstruction

15 September 2025 16:01 (UTC +04:00)

The reconstruction of the areas around Lake Boyukshor in Baku city, located between Heydar Aliyev and Ziya Bunyadov avenues, as well as the areas surrounding the Heydar Aliyev Oil Refinery, will be carried out based on agreed conceptual projects within the framework of the public-private partnership model, APA reports.

This is reflected in the Cabinet of Ministers' order on "Establishing a Working Group to Support Strategic Urban Development Initiatives in the Socio-Economic Development of Baku City."

According to the order, the newly established Working Group is tasked with initially creating the necessary conditions for investment to carry out the reconstruction of the areas around Lake Boyukshor in Baku city, located between Heydar Aliyev and Ziya Bunyadov avenues, as well as the areas surrounding the Heydar Aliyev Oil Refinery, based on agreed conceptual projects within the framework of the public-private partnership model; ensuring the negotiation of the terms of investment agreements for these projects; and taking other necessary measures.