Azersun Holding to construct Oil Terminal in Garadagh

Azersun Holding to construct Oil Terminal in Garadagh
# 23 May 2007 13:34 (UTC +04:00)
Azersun Holding Group of Companies plans to start construction of an oil terminal in Garadagh, near Baku in a few months.
Abdolbari Goozal, President of Azersun Holding, said the project is likely to be funded by Azerbaijan Investment Company and Islamic Development Bank.
“The terminal will be in the capacity of 10 million tons of oil at the first phase. We will expand its capacity later. Negotiations with potential credits are under way. The construction works will take a few years,” he noted.
The project is estimated to cost $100 million. /APA-Economics/
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