SOCAR boosts social investments in Azerbaijan

The State Oil Company of Azerbaijan Republic (SOCAR) has dramatically ramped up its social investments in 2023.

According to Report, which cites SOCAR's consolidated financial report, the oil giant allocated a staggering 770 million manats (approximately $453 million) for construction and renovation projects based on government decrees last year.

This substantial investment marks a 46.1% increase from the previous year's figure of 527 million manats ($310 million). The funds were primarily directed towards enhancing the country's recreational facilities, transportation networks, educational institutions, and healthcare infrastructure.