Energy Minister: Participation of Russian business in Azerbaijan meets interests of both countries 

"Azerbaijan has created the most favorable condition for the development of economic cooperation with Russian partners," Energy Minister Parviz Shahbazov said in an interview to Russia's Neftegazovaya Vertikal magazine, Report informs.

According to him, one of the successful cooperation between the two countries is the implementation of the SOCAR Polymer project by Gazprombank with a loan of USD 489 million for ten years: "SOCAR and Gazprombank signed an agreement on funding construction of plants on June 19, 2015."

The minister says that the participation of Russian business in Azerbaijan is a factor meeting the interests of both countries.

The SOCAR Polymer project includes polypropylene plants with an annual capacity of 184,000 tons and high-density polyethylene plants with a yearly capacity of 120,000 tons. The polypropylene plant was commissioned on July 18, 2018, with the participation of Azerbaijani President Ilham Aliyev and Italian President Sergio Mattarella. Export of polypropylene started on October 5.