Economic Development in Azerbaijan
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Azeri440
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Azerbaijan, Iran plan to accelerate creation of joint plant for medicine production
Iran and Azerbaijan plan to accelerate the work on the establishment of a joint pharmaceutical enterprise in the industrial park in Baku, Iranian Deputy Minister of Health Iraj Harirchi told Trend on March 30.
He said this issue will be discussed during the visit of the Iranian Health Minister Hassan Ghazizadeh Hashemi to Azerbaijan on April 19.
“The decision to create a joint pharmaceutical enterprise was again confirmed during the recent visit [March 28-29] of Iranian President Hassan Rouhani to Azerbaijan,” Harirchi noted.
He added that the parties agreed to expand cooperation in the creation of the joint venture for medicine production, as well as in the medical field and in establishing links between the medical universities of the two countries.
Azerbaijan and Iran signed the memorandum of understanding on the construction of a joint pharmaceutical plant on April 21, 2016. The groundbreaking ceremony of the joint plant Caspian Pharmed was held in the Pirallahi district of Baku in January 2017.
The cost of the plant is $20.6 million, and the Iranian side will invest some $11 million in its construction. The project shareholders are Iran’s Tamin Pharmaceutical Investment Company (49 percent), Azersun Holding (26 percent) and Azerbaijan Investment Company (25 percent).
The project will consist of three stages. In the first phase there will be production of pills and capsules, ampoules and vial - in the second stage, and production of antibiotic drugs will be in the third stage.
The major part of drugs is planned to be sold in Azerbaijan’s domestic market, while a certain part will be exported to Russia, Kazakhstan, Georgia and other countries.
https://www.azernews.az/business/129506.html
Azerbaijan sending metal products for new BMW plant in Germany
The Sumgayit Technologies Park (STP) delivered the first cargo of galvanized steel products to Germany for construction of a new plant of German auto giant BMW in Cologne, the STP told Trend.
"A contract for supply of the first cargo of metal products to Germany was signed with the contractor company, DMT Foundry GmbH, and negotiations are currently underway to supply the next cargo."
https://www.azernews.az/business/129528.html
Azerbaijan's e-security center , Microsoft to cooperate in cyber security
The e-security center CERT (Computer Emergency Response Team) of the Azerbaijani Ministry of Transport, Communications and High Technologies will take advantage of Microsoft's experience in providing protection against cyber attacks, the ministry said on April 2.
The ministry said that a relevant agreement on cooperation in this field was reached within a Memorandum of Understanding signed at the level of the leaderships of Microsoft Azerbaijan and CERT.
Under the memo, CERT will use Microsoft's services and technologies in the field of cyber security, share experience in this field, cooperate in conducting relevant studies, etc.
https://www.azernews.az/business/129628.html
Repair of Baku-Boyuk Kasik railway continues
Azerbaijan Railways CJSC has launched the next stage of work for overhaul of the Baku-Boyuk Kasik railway, the press service of the company said in a statement April 2.
The overhaul of the 4.5-km Govlar-Tovuz section began on April 2.
The reconstruction work will last one week.
The project to reconstruct the 600-km Baku-Boyuk Kasik railway started in October 2015.
To date, 507 kilometers of the railway have been reconstructed.
https://www.azernews.az/business/129608.html
Two new solar power plants are planned to be commissioned in Azerbaijan
Two new solar power plants are planned to be commissioned in Azerbaijan in the near future, Nizami Asgarov, chief technologist of Azerbaijan’s Azguntex company, told Trend April 3.
The power plants will operate on solar panels manufactured by the company, he added.
“The power plant in Baku’s Sahil settlement is fully ready for operation,” he said. “It is only left to connect solar generating facilities to the common electricity grid. After the start of its operation, it is also planned to commission a similar solar power plant in Sumgait city, where the work has almost been completed.”
https://www.azernews.az/business/129736.html
Iran and Azerbaijan plan to accelerate the work on the establishment of a joint pharmaceutical enterprise in the industrial park in Baku, Iranian Deputy Minister of Health Iraj Harirchi told Trend on March 30.
He said this issue will be discussed during the visit of the Iranian Health Minister Hassan Ghazizadeh Hashemi to Azerbaijan on April 19.
“The decision to create a joint pharmaceutical enterprise was again confirmed during the recent visit [March 28-29] of Iranian President Hassan Rouhani to Azerbaijan,” Harirchi noted.
He added that the parties agreed to expand cooperation in the creation of the joint venture for medicine production, as well as in the medical field and in establishing links between the medical universities of the two countries.
Azerbaijan and Iran signed the memorandum of understanding on the construction of a joint pharmaceutical plant on April 21, 2016. The groundbreaking ceremony of the joint plant Caspian Pharmed was held in the Pirallahi district of Baku in January 2017.
The cost of the plant is $20.6 million, and the Iranian side will invest some $11 million in its construction. The project shareholders are Iran’s Tamin Pharmaceutical Investment Company (49 percent), Azersun Holding (26 percent) and Azerbaijan Investment Company (25 percent).
The project will consist of three stages. In the first phase there will be production of pills and capsules, ampoules and vial - in the second stage, and production of antibiotic drugs will be in the third stage.
The major part of drugs is planned to be sold in Azerbaijan’s domestic market, while a certain part will be exported to Russia, Kazakhstan, Georgia and other countries.
https://www.azernews.az/business/129506.html
Azerbaijan sending metal products for new BMW plant in Germany
The Sumgayit Technologies Park (STP) delivered the first cargo of galvanized steel products to Germany for construction of a new plant of German auto giant BMW in Cologne, the STP told Trend.
"A contract for supply of the first cargo of metal products to Germany was signed with the contractor company, DMT Foundry GmbH, and negotiations are currently underway to supply the next cargo."
https://www.azernews.az/business/129528.html
Azerbaijan's e-security center , Microsoft to cooperate in cyber security
The e-security center CERT (Computer Emergency Response Team) of the Azerbaijani Ministry of Transport, Communications and High Technologies will take advantage of Microsoft's experience in providing protection against cyber attacks, the ministry said on April 2.
The ministry said that a relevant agreement on cooperation in this field was reached within a Memorandum of Understanding signed at the level of the leaderships of Microsoft Azerbaijan and CERT.
Under the memo, CERT will use Microsoft's services and technologies in the field of cyber security, share experience in this field, cooperate in conducting relevant studies, etc.
https://www.azernews.az/business/129628.html
Repair of Baku-Boyuk Kasik railway continues
Azerbaijan Railways CJSC has launched the next stage of work for overhaul of the Baku-Boyuk Kasik railway, the press service of the company said in a statement April 2.
The overhaul of the 4.5-km Govlar-Tovuz section began on April 2.
The reconstruction work will last one week.
The project to reconstruct the 600-km Baku-Boyuk Kasik railway started in October 2015.
To date, 507 kilometers of the railway have been reconstructed.
https://www.azernews.az/business/129608.html
Two new solar power plants are planned to be commissioned in Azerbaijan
Two new solar power plants are planned to be commissioned in Azerbaijan in the near future, Nizami Asgarov, chief technologist of Azerbaijan’s Azguntex company, told Trend April 3.
The power plants will operate on solar panels manufactured by the company, he added.
“The power plant in Baku’s Sahil settlement is fully ready for operation,” he said. “It is only left to connect solar generating facilities to the common electricity grid. After the start of its operation, it is also planned to commission a similar solar power plant in Sumgait city, where the work has almost been completed.”
https://www.azernews.az/business/129736.html
Islamic faith&Secularism
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XTQ1999
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SOCAR buys assets of German energy giant in Turkey
The German giant EWE AG company is preparing to withdraw from the energy market of Turkey and to sell its share in gas distribution companies Bursagaz AS and Kayserigaz AS.
SOCAR claims the assets of the Turkish division of the German giant EWE AG — EWE Turkey Holding, Turkish media reported.
The management of EWE Turkey Holding has already held a number of meetings with potential buyers, including SOCAR and KOLIN Insaat, Turizm Sanayi ve Ticaret A.S. group of companies.
The price of the German company's share in the gas distribution companies in Bursa and Kayseri proposed for sale is $200-250 million. EWE owns a total of 80 percent of the shares of Bursagaz AS and Kayserigaz AS, the remaining 10 percent belong to the Calik Enerji Sanayi ve Ticaret A.S. company and the relevant municipalities.
https://www.azernews.az/oil_and_gas/135994.html
SOCAR to start construction of new petrochemical complex in Turkey
The construction of a new petrochemical complex of SOCAR in Turkey is scheduled for June 2019, SOCAR Turkey Energy reported.
It is planned to complete the feasibility study of the project by April 2019, so that by June construction work will start. It is expected that the complex will begin to produce products by the end of 2022 - beginning of 2023. Its commissioning by 40 percent will ensure Turkey's needs for petrochemical products.
Earlier, the head of SOCAR Turkey Energy Zaur Gahramanov said that the engineering work on the new project is ongoing and will be completed by the end of this year.
He noted that the necessary licenses have already been acquired, and investments are in the range of $1.6 - $2.2 billion in accordance with the initial estimates.
It is expected that in 2018, the consolidated turnover of SOCAR Turkey Energy will reach $15 billion and the company will become the second largest industrial company in Turkey with 5,000 employees and export potential of $3 billion.
It aims to become the largest Turkish industrial company by 2023. The company also owns a controlling stake (51 percent) in the Petkim petrochemical complex on the Aliaga Peninsula.
SOCAR is a wholly state-owned national oil company headquartered in Baku, Azerbaijan. The company produces oil and natural gas from onshore and offshore fields in the Azerbaijani section of the Caspian Sea.
Azerbaijan’s state oil company began its activity in Turkey after privatization of Petkim Holding in 2008 and has been operating under brand name of SOCAR Turkey. It is involved in a number of major investment projects in Turkey, including the construction of TANAP, Star refinery, and others.
https://www.azernews.az/oil_and_gas/135883.html
The German giant EWE AG company is preparing to withdraw from the energy market of Turkey and to sell its share in gas distribution companies Bursagaz AS and Kayserigaz AS.
SOCAR claims the assets of the Turkish division of the German giant EWE AG — EWE Turkey Holding, Turkish media reported.
The management of EWE Turkey Holding has already held a number of meetings with potential buyers, including SOCAR and KOLIN Insaat, Turizm Sanayi ve Ticaret A.S. group of companies.
The price of the German company's share in the gas distribution companies in Bursa and Kayseri proposed for sale is $200-250 million. EWE owns a total of 80 percent of the shares of Bursagaz AS and Kayserigaz AS, the remaining 10 percent belong to the Calik Enerji Sanayi ve Ticaret A.S. company and the relevant municipalities.
https://www.azernews.az/oil_and_gas/135994.html
SOCAR to start construction of new petrochemical complex in Turkey
The construction of a new petrochemical complex of SOCAR in Turkey is scheduled for June 2019, SOCAR Turkey Energy reported.
It is planned to complete the feasibility study of the project by April 2019, so that by June construction work will start. It is expected that the complex will begin to produce products by the end of 2022 - beginning of 2023. Its commissioning by 40 percent will ensure Turkey's needs for petrochemical products.
Earlier, the head of SOCAR Turkey Energy Zaur Gahramanov said that the engineering work on the new project is ongoing and will be completed by the end of this year.
He noted that the necessary licenses have already been acquired, and investments are in the range of $1.6 - $2.2 billion in accordance with the initial estimates.
It is expected that in 2018, the consolidated turnover of SOCAR Turkey Energy will reach $15 billion and the company will become the second largest industrial company in Turkey with 5,000 employees and export potential of $3 billion.
It aims to become the largest Turkish industrial company by 2023. The company also owns a controlling stake (51 percent) in the Petkim petrochemical complex on the Aliaga Peninsula.
SOCAR is a wholly state-owned national oil company headquartered in Baku, Azerbaijan. The company produces oil and natural gas from onshore and offshore fields in the Azerbaijani section of the Caspian Sea.
Azerbaijan’s state oil company began its activity in Turkey after privatization of Petkim Holding in 2008 and has been operating under brand name of SOCAR Turkey. It is involved in a number of major investment projects in Turkey, including the construction of TANAP, Star refinery, and others.
https://www.azernews.az/oil_and_gas/135883.html
XTQ1999
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Germany interested in further development of Southern Gas Corridor
Germany interested to develop further the Southern Gas Corridor project, which provides for the transportation of gas from the Azerbaijani Shah Deniz field to Europe, a German government official told press ahead of an upcoming visit of German Chancellor Angela Merkel to the South Caucasus countries - Azerbaijan, Georgia and Armenia.
"We are interested in construction of a new alternative pipeline network to transport Caspian natural gas via Turkey to Europe. We have a considerable interest in further development of the Southern Gas Corridor," he said.
He noted that connecting European gas networks to the TANAP and TAP pipelines is part of the EU's diversification strategy.
"Azerbaijan is a country of high geo-political significance for global energy supply. Berlin is open to importing natural gas from other countries such as Turkmenistan, Iran, and Iraq," he said.
A ceremony to launch Phase 0 of TANAP took place June 12 in the Turkish city of Eskisehir.
TANAP, together with Trans-Adriatic Pipeline (TAP), is a part of the Southern Gas Corridor, which provides for the transportation of gas from the Azerbaijani field Shah Deniz to Europe
https://www.azernews.az/oil_and_gas/136529.html
Germany interested to develop further the Southern Gas Corridor project, which provides for the transportation of gas from the Azerbaijani Shah Deniz field to Europe, a German government official told press ahead of an upcoming visit of German Chancellor Angela Merkel to the South Caucasus countries - Azerbaijan, Georgia and Armenia.
"We are interested in construction of a new alternative pipeline network to transport Caspian natural gas via Turkey to Europe. We have a considerable interest in further development of the Southern Gas Corridor," he said.
He noted that connecting European gas networks to the TANAP and TAP pipelines is part of the EU's diversification strategy.
"Azerbaijan is a country of high geo-political significance for global energy supply. Berlin is open to importing natural gas from other countries such as Turkmenistan, Iran, and Iraq," he said.
A ceremony to launch Phase 0 of TANAP took place June 12 in the Turkish city of Eskisehir.
TANAP, together with Trans-Adriatic Pipeline (TAP), is a part of the Southern Gas Corridor, which provides for the transportation of gas from the Azerbaijani field Shah Deniz to Europe
https://www.azernews.az/oil_and_gas/136529.html
XTQ1999
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Azerbaijan and Belarus will launch joint production of electric buses for regional demand
Azerbaijan will invest 2.3 billion into 4 major wind farms, over the period of 3 to 4 years.
https://www.azernews.az/business/144348.html
BP Bets Big On Azerbaijan With 6 New Wells To Be Drilled
BP is placing a big bet on oil-rich Azerbaijan as the British multinational oil and gas company plans to drill six new exploratory wells by 2020.
Gary Jones, BP’s regional president for Azerbaijan, Georgia and Turkey, thinks the company may find a gas field in what is the world’s largest lake, namely the Caspian Sea, as large as Azerbaijan’s Shah Deniz field. Shah Deniz is the second-largest discovery BP has made, after the Prudhoe Bay oil field in Alaska.
The list of new exploratory wells in Azerbaijan’s slice of the Caspian and run by BP includes the Shafag-Asiman field. According to experts, it could be similar in size to Shah Deniz 2, as it sits on a 1,100 square kilometer (424 square mile) area. Located about 78 miles to the southeast of Baku, it has never before been explored.
Following an agreement signed in 2010, BP and Azerbaijan’s state oil company, known as SOCAR, own equal shares in Shafag-Asiman. The contract allows BP to explore the wells over a three-year period, with the possibility of prolonging the exploration period for another four years. Jones says exploration is scheduled for sometime this year.
Another well will be drilled at the onshore Gobustan field, located in the eastern part of Azerbaijan. BP will likely be the main operator of the field and will begin work by drilling one exploratory well there to get a feel for its prospects. Officials are hoping to lock down a contract for Gobustan later this year.
Meanwhile, a recent decline in oil prices has not affected the decisions of the oil and gas giant.
https://caspiannews.com/news-detail...n-with-6-new-wells-to-be-drilled-2019-1-14-6/
BP & SOCAR to evaluate JV for Turkey petrochemicals complex
The proposed facility, in Aliaga in western Turkey, would produce 1.25 million tonnes per annum of PTA, 840,000 tpa paraxylene and 340,000 tpa benzene.
Both companies expect to work towards a potential final investment decision in 2019, which could result in start-up of the new plant in 2023.
http://www.tankstoragemag.com/displ...valuate_jv_for_turkey_petrochemicals_complex/
SOCAR Carbamide Plant is now complete and will be hitting its peak production of 500,000 tons in March
Azerbaijan will invest 2.3 billion into 4 major wind farms, over the period of 3 to 4 years.
https://www.azernews.az/business/144348.html
BP Bets Big On Azerbaijan With 6 New Wells To Be Drilled
BP is placing a big bet on oil-rich Azerbaijan as the British multinational oil and gas company plans to drill six new exploratory wells by 2020.
Gary Jones, BP’s regional president for Azerbaijan, Georgia and Turkey, thinks the company may find a gas field in what is the world’s largest lake, namely the Caspian Sea, as large as Azerbaijan’s Shah Deniz field. Shah Deniz is the second-largest discovery BP has made, after the Prudhoe Bay oil field in Alaska.
The list of new exploratory wells in Azerbaijan’s slice of the Caspian and run by BP includes the Shafag-Asiman field. According to experts, it could be similar in size to Shah Deniz 2, as it sits on a 1,100 square kilometer (424 square mile) area. Located about 78 miles to the southeast of Baku, it has never before been explored.
Following an agreement signed in 2010, BP and Azerbaijan’s state oil company, known as SOCAR, own equal shares in Shafag-Asiman. The contract allows BP to explore the wells over a three-year period, with the possibility of prolonging the exploration period for another four years. Jones says exploration is scheduled for sometime this year.
Another well will be drilled at the onshore Gobustan field, located in the eastern part of Azerbaijan. BP will likely be the main operator of the field and will begin work by drilling one exploratory well there to get a feel for its prospects. Officials are hoping to lock down a contract for Gobustan later this year.
Meanwhile, a recent decline in oil prices has not affected the decisions of the oil and gas giant.
https://caspiannews.com/news-detail...n-with-6-new-wells-to-be-drilled-2019-1-14-6/
BP & SOCAR to evaluate JV for Turkey petrochemicals complex
The proposed facility, in Aliaga in western Turkey, would produce 1.25 million tonnes per annum of PTA, 840,000 tpa paraxylene and 340,000 tpa benzene.
Both companies expect to work towards a potential final investment decision in 2019, which could result in start-up of the new plant in 2023.
http://www.tankstoragemag.com/displ...valuate_jv_for_turkey_petrochemicals_complex/
SOCAR Carbamide Plant is now complete and will be hitting its peak production of 500,000 tons in March
XTQ1999
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Škoda will also start production of electric buses in Azerbaijan in the near future for regional demand.
https://en.trend.az/business/economy/3010700.html
https://en.trend.az/business/economy/3010700.html
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