Kulevi Oil Terminal to come online in October

Kulevi Oil Terminal to come online in October
# 16 October 2007 14:59 (UTC +04:00)
Construction of the SOCAR-owned Kulevi Oil Terminal, wedged between the Tsiva and Khobbi Rivers of Georgia, will be completed in October this year, said Rovnag Abdullayev, President of the State Oil Company of Azerbaijan.
The SOCAR foreign investment officer Vagif Aliyev added that oil transportation at the terminal will commence in November.
The State Oil Company of Azerbaijan (SOCAR) received two loans from Societe Generale ($265 million) and ABN Amro ($40 million) for construction work.
The loan will be repaid through proceeds from profit oil sales. /APA-Economics/
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