Largest oil refinery to be re-established due to state-guaranteed loans

Baku. 14 July. REPORT.AZ/ Through the reconstruction of the Heydar Aliyev Oil Refinery, State Oil Company of Azerbaijan Republic (SOCAR) tends to extend the life of the plant up to 2030.

Report informs, Rovnag Abdullayev, President of SOCAR said.

He noted that, for aim of financing of the present project, SOCAR has already applied to the government for allocation of the relevant state-guaranteed loans by the Central Bank.

"On the basis of state-guarantee, in the future will be allocated about 1.2 billion AZN from the state budget. We have already appealed to the government on this issue", said President of the State Oil Company.