In Azerbaijan Azersun Holding Group plans to begin construction an oil terminal in Garadagh, near Baku in a few months.
The terminal will have a capacity of 10 million tonnes in the first phase. We will expand its capacity later. Negotiations with potential credits are under way. The construction works will take a few years, Abdolbari Goozal, president of Azersun Holding, states.
The project, which is estimated to cost $100 million (76.8 million), is likely to be funded by Azerbaijan Investment Company and Islamic Development Bank.