560 million AZN will be allocated for financing SOCAR's share in Southern Gas Corridor

Baku. 29 September. REPORT.AZ/ 560 million AZN will be allocated for financing share of the State Oil Company of Azerbaijan Republic (SOCAR) in Southern Gas Corridor project, as well increasing share capital of the company established for this project.

Report informs, the draft law “On state budget of 2017” says

The Southern Gas Corridor project of the state budget for 2017, the State Oil Company of Azerbaijan (SOCAR), the share of the funding, established for this purpose to increase the company's authorized capital is 560 million. intends to manat.

According to the law, the state budget for 2017 planned capital expenditures to 3 654,4 million AZN. These costs will make 22% of the budgetary total costs amount: "1 860,0 million AZN will be set for the state capital investment expenses in next year's state budget. 560 million AZN of this amount or 30,1% will be allocated financing share of the State Oil Company of Azerbaijan Republic (SOCAR) in Southern Gas Corridor project, as well increasing share capital of the company established for Southern Gas Corridor project, 1 300.0 million AZN or 69.9% to finance necessary projects and measures.