American firms to build petroleum chemical complex in Azerbaijan

May 07, 2006 02:00 AM

American companies intend to construct big petroleum chemical complex in Azerbaijan, informed Heydar Babayev, Minister of Economic Development.
The Minister said the companies asked the Azerbaijani government for a guarantee for continuous raw material supply.

Yet, the Azerbaijani government does not fully trust the amount announced by the investors as investments on construction of the complex. The Minister said they would organize a free expertise on the trustworthiness of the investments.
The Ministry of Economic Development estimates the investments on the construction to be approximately $ 500-600 mm though no term is discussed with the American side yet.

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