Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Azerbaijan to Seek Adviser for $15 Billion Petrochemical Complex

Don't Miss Out —
Follow us on:

Nov. 14 (Bloomberg) -- Azerbaijan will seek an adviser to help secure from foreign lenders two-thirds of the $15 billion that the third-largest oil producer in the former Soviet Union needs to build a planned petrochemicals complex.

The country will “soon” tender for the post, which will involve negotiating with lenders over the complex, to be built near the capital of Baku, Tofiq Qahramanov, a vice president at the State Oil Co. of Azerbaijan, said in an interview. He didn’t give the exact timing of the tender or name potential lenders.

The nation will provide the rest of the funds for the site, which will take the rest of the decade to complete and be able to turn 10 billion to 15 billion cubic meters of natural gas a year into products such as propane and butane, Qahramanov said. The refinery at the development will have the capacity to process 10 million metric tons of crude annually, he added.

To contact the reporter on this story: Zulfugar Agayev in Baku at zagayev@bloomberg.net

To contact the editor responsible for this story: Hellmuth Tromm at htromm@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.