Azerbaijan’s state energy company SOCAR will borrow 1.8 billion manat from the Central Bank to finance its projects in the country, CEO Rovnaq Abdullayev said.
The Cabinet of Ministers has already decided to lend SOCAR 1.2 billion manat to fund the upgrading of the Heydar Aliyev refinery in Baku and Azarkimya petrochemical facilities in Sumqayit, Abdullayev said.
An additional 600 million manat will be borrowed from the Central Bank to finance SOCAR’s drilling projects in Azerbaijan, he said.
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