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Azerbaijan keen to attract Chinese investors to OGPC project

SOCAR can offer 50% shares to Chinese investors in project

Baku. 16 September. REPORT.AZ/ Chinese companies and banks were proposed to participate as a shareholder and to finance construction of the Oil and Gas Processing and Petrochemical Complex (OGPC) project of the State Oil Company of Azerbaijan Republic (SOCAR) in Garadagh district.

Report informs President of SOCAR Rovnag Abdullayev said in an interview with journalists.

The head of SOCAR noted currently works are being done on this proposal.

"As you know, memorandum of understanding (MoU) was signed between China National Petroleum Corporation (CNPC) and SOCAR. At present, we work together with Chinese "Eximbank", other banks and CNPC. Soon talks are likely to give results. We think, Chinese companies as a shareholder will participate with up to 50% in the project.

Meanwhile, Chinese state-owned "Eximbank" and Bank of China will finance the project together", R. Abdullayev said.

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