Economic Development in Azerbaijan

[Azeri440]

Azerbaijan to finance logistics center construction in Riga

Silk Way Investment LV company and Riga International Airport GAO have inked an agreement on the logistics center construction for goods from Central Asia and Asia Minor.

The investment into the project with an area of 5.5 hectares stands at 40 million euros.

Sarmite Rinmane, the director of communications informed the press that investors plan to launch the center in 2017.

Some 100 percent of the Silk Way Investment shares are owned by the Silk Way Development, registered at the Heydar Aliyev International Airport, according to the Latvian Register of Enterprises.

The only board member of the Riga firm, which will begin construction of the building in early summer for cargo handling, is 37-year-old businessman, Vugar Zeynalov.

Silk Way Holding has long been developing a cargo transportation of goods in the Central Eurasian region. The Silk Way Airlines controls the operations in the Baku cargo terminal and is one of the major partners of the national carrier Azerbaijan Airlines (AZAL).

There is no detailed information about the categories of goods that will be delivered on the route Riga - Baku - Riga, as well as no details about whether or not Riga Airport will become a base platform in Europe for AZAL.

Riga Airport and GAO airBaltic Corp. have cooperated with AZAL for several years in the travel field, carrying out direct flights between Riga and Baku in the summer season.

Azerbaijan to finance logistics center construction in Riga - AzerNews

 

[Azeri440]

Azerbaijan to switch to wind plants

Azerbaijan plans to use the windy Caspian Sea to expand its alternative energy potential.

The country has started work on the development of the area of the Caspian Sea to create wind farms there, said Jamil Melikov, the deputy head of State Agency on Alternative and Renewable Energy Sources.

"The energy system of Azerbaijan is closely linked with those of neighboring countries," he said adding that this creates an opportunity for both export and import of electricity.

"A further increase in production capacity in the electricity sector will increase the export potential of Azerbaijan. Alternative sources of energy are one of the areas where we could increase our generating capacity," he said.

The offshore area of the Caspian Sea has a great potential in terms of generating capacities, Melikov added.

"The offshore area of the Caspian Sea has a great wind potential. Here we have a large space where to build wind power plants,” he said.

Azerbaijan has already begun work on the development of the Caspian Sea water area to construct wind parks, and it successfully continues today, the deputy head said.

Today, the power of the energy system of Azerbaijan is about 7.2 megawatts.

The total potential of alternative and renewable energy sources in the country exceeds 12,000 megawatts. Most of the country's capacity in this area accounts for solar energy, and this potential is estimated to stand at 5,000 megawatts.

Wind energy accounts for 4,500 megawatts, biomass - 1,500 megawatts, geothermal energy - 800 megawatts, and the remaining 350 megawatts from small hydro power plants.

Despite the fact, that solar power is most profitable in comparison with other alternative resources in Azerbaijan now, the difference between solar and wind energy is not drastic. Moreover, the wind park project may eliminate this distinction.

Scientists believe that our planet has more than enough wind to power the whole world.

Recent U.S. studies show that existing wind turbine technology could produce hundreds of trillions of watts of power, more than 10 times what the world now consumes.

Wind power is safe and limitless, and is essentially money coming from the air. The stumbling stone here is finances, said experts as it would be too costly to construct all the necessary wind turbines and build a system which transmit energy to all consumers.

However, sooner or later the world will face an energy challenge and the existence of wind park in Azerbaijan’s sector of the Caspian Sea will wield nothing but profit.

Azerbaijan to switch to wind plants - AzerNews

 

[xenon54 out]

Azerbaijan to switch to wind plants

Azerbaijan plans to use the windy Caspian Sea to expand its alternative energy potential.

The country has started work on the development of the area of the Caspian Sea to create wind farms there, said Jamil Melikov, the deputy head of State Agency on Alternative and Renewable Energy Sources.

"The energy system of Azerbaijan is closely linked with those of neighboring countries," he said adding that this creates an opportunity for both export and import of electricity.

"A further increase in production capacity in the electricity sector will increase the export potential of Azerbaijan. Alternative sources of energy are one of the areas where we could increase our generating capacity," he said.

The offshore area of the Caspian Sea has a great potential in terms of generating capacities, Melikov added.

"The offshore area of the Caspian Sea has a great wind potential. Here we have a large space where to build wind power plants,” he said.

Azerbaijan has already begun work on the development of the Caspian Sea water area to construct wind parks, and it successfully continues today, the deputy head said.

Today, the power of the energy system of Azerbaijan is about 7.2 megawatts.

The total potential of alternative and renewable energy sources in the country exceeds 12,000 megawatts. Most of the country's capacity in this area accounts for solar energy, and this potential is estimated to stand at 5,000 megawatts.

Wind energy accounts for 4,500 megawatts, biomass - 1,500 megawatts, geothermal energy - 800 megawatts, and the remaining 350 megawatts from small hydro power plants.

Despite the fact, that solar power is most profitable in comparison with other alternative resources in Azerbaijan now, the difference between solar and wind energy is not drastic. Moreover, the wind park project may eliminate this distinction.

Scientists believe that our planet has more than enough wind to power the whole world.

Recent U.S. studies show that existing wind turbine technology could produce hundreds of trillions of watts of power, more than 10 times what the world now consumes.

Wind power is safe and limitless, and is essentially money coming from the air. The stumbling stone here is finances, said experts as it would be too costly to construct all the necessary wind turbines and build a system which transmit energy to all consumers.

However, sooner or later the world will face an energy challenge and the existence of wind park in Azerbaijan’s sector of the Caspian Sea will wield nothing but profit.

Azerbaijan to switch to wind plants - AzerNews

View attachment 212608

Invest in renevable energy, sell oil, buy oil funds for the time after oil, very clever strategy.

Meanwhile the industrialization must go on to decrease the dependance on oil, once this is done the future of Azerbaijan is saved with oil being a little bonus to the GDP.

Would be appreciated if you post more about non-oil industrial investments.

 

[Azeri440]

Chinese investors have agreed to invest $12.5 bn in Khazar Islands construction project

Chinese companies plan to invest in concern Avesta-implemented project worth $12.5 bn on the construction of Azerbaijan’s first island town Khazar Islands.
The concern informs that as part of his visit to China, Avesta president Haji Ibrahim Nehramli met with the heads of Chinese companies China ZK Investment Group and TSG Global.

"During the meeting the representatives of those companies which are shareholders of Caspian Global stated about the possibilities of investment of $12.5 bn in the construction of the first island town. The parties have already reached an initial arrangement and made a decision on the formal confirmation of the decision to be implemented in the near future," Avesta said.

Chinese investors have agreed to invest $12.5 bn in Khazar Islands construction project - ABC.AZ

 

[Azeri440]

Italian company to build polypropylene plant in Azerbaijan

Subsidiaries of Italian Maire Tecnimont S.p.A. – Tecnimont S.p.A. and KT – Kinetics Technology S.p.A. will construct a polypropylene plant in Azerbaijan as part of SOCAR POLYMER project implemented in the Sumgayit Petrochemical Complex.

The estimated total cost of the contract is approximately 350 million euros. The contract will be officially signed in Baku on April 14, AzerTac state news agency reported.

The Project`s Scope of Work envisages the provision of complete engineering services, equipment and material supply, erection and construction activities up to start up and guarantee test run. The plant will have a capacity of about 180,000 tons per year.

This will be the first polypropylene plant in Azerbaijan and will utilize the propylene feedstock coming from the existing naphtha cracker.

SOCAR is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in the domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan.

Italian company to build polypropylene plant in Azerbaijan - AzerNews

 

[Azeri440]

TASIM, TANAP of same importance - Minister

The Trans-Eurasian Information Super Highway will be at least as important as the Trans Anatolian Natural Gas Project, Azerbaijan’s Communications and High Technologies Minister Ali Abbasov believes.

“When TASIM will be [fully] realized, it will be as important as TANAP,” the minister said in an interview with Hurriyet Daily News, during his visit to Istanbul.

Today Azerbaijan and Turkey are trying to form a relationship apart from oil and natural gas, which is communications, said Abbasov, adding that the two states are trying to build a business environment in which businessmen will be exempt from taxes and customs procedures.

Abbasov said Baku and Ankara have a joint project that will open access for Azerbaijani and Turkish businessmen to the markets of the two countries and expand export and trade opportunities of the two countries’ companies.

The minister also emphasized the growing importance of Azerbaijan and Turkey in the region.

The groundbreaking ceremony has been recently held in Turkey’s Kars province for the TANAP gas pipeline that envisages the transportation of gas from Azerbaijan’s Shah Deniz field from the Georgian-Turkish borders to Turkey’s western borders.

TANAP construction is due to be completed in 2018 and TAP in 2020 with first gas deliveries to Europe planned in the same year. The project’s cost is estimated at $10-$11 billion.

The TASIM project with an initial cost of $100 million envisions the creation of a major transit link from Frankfurt to Hong Kong. The project aims to reduce poverty and accelerate economic growth. It can also play a leading role in the region's development.

TASIM is designed to connect 20 countries, and its realization will help address the information gap between Western Europe and the Pacific Basin.

The line will connect major centers of data exchange in Europe and Asia together, stretching through China, Kazakhstan, Azerbaijan, Georgia, Turkey, and Germany.

A reserve North transit line will pass through Russia, Ukraine and Poland.

The issue of laying the Caspian segment of cable line is an integral part of the TASIM project, and negotiations on this issue are underway with Kazakhstan.

TASIM will stretch over 11,000 kilometers and its initial network bandwidth will reach 2 Tbit/s.

The project will be implemented in two stages and the construction is planned for 2016.

TASIM, TANAP of same importance - Minister - AzerNews

Hungary to take part in DATA center construction

Hungary intends to contribute in the construction of Tier 3 regional DATA-center in Azerbaijan, the Azerbaijani Communications and High Technologies ministry reported.

The issue was discussed at a meeting of a joint working group of Azerbaijan and Hungary on cooperation in the use of innovative technologies.

The Hungarian side has been informed in detail about the work being done in Azerbaijan for the construction of a regional DATA-center.

The DATA-center will be commissioned soon. The need to create the DATA Center is obvious in the face of the dynamic growth of the number of Internet users and Internet content.

Commissioning of the DATA-center will promote the popularization of the cloud services and accelerate the transition to cloud computing. The project is implemented with the support of UNDP.

The data center is under construction on an area stretching over 1,000 square meters. At the initial stage, the number of server cabinets at the center will reach 200, the volume of the array - 30 petabytes, and data transfer rate - 10-100 gigabits per second. As needs will grow, the power of the center will be increased.

The center will ensure stable operation in case of failure of any node of the system, as it will have a record of 99.985 percent availability.

Clients of the disaster-proof DATA center can stay sure that their data is safe.

The Data center will be the first data center of the kind in the region. The Center will also provide services to countries in the region and the world's largest companies such as Google, Facebook and others.

Hungary has showed an interest in Azerbaijan ICT sector before, and presented their companies at the traditional BakuTel exhibition.

Hungary to take part in DATA center construction - AzerNews

 

[Azeri440]

President: “Turkmenistan continues negotiations with Azerbaijan and Turkey on construction of transboundary gas pipeline”

Turkmenistan will continue the works for realization of European chord on gas export, Turkmen President Gurbangulu Berdymuhammadov said after meeting with the President of the Republic of Moldova Nicolae Timofti.
“Regarding issues on the Caspian Sea, we are continuing negotiations with Azerbaijan and Turkey on construction of transboundary gas pipeline. I believe that we’ll agree and this will be a new step for realization of European chord”, the Turkmen President said.
Moldovan President noted that they mainly discussed energy security at the meeting wit Turkmen counterpart: “We discussed realization of energy projects in the Caspian Sea region with the participation of Turkmenistan. We agreed our specialists to continue cooperation in this sphere”.

APA - President: “Turkmenistan continues negotiations with Azerbaijan and Turkey on construction of transboundary gas pipeline”


Education

Sabis Sun International School (Baku)

 

[Azeri440]

Azerbaijan to build three more ships

It is scheduled to receive 3 passenger vessel ordered from Baku Shipyard before May, 2016.

According to Oxu.Az, the statement came from the chairman of the "Azerbaijan Caspian Shipping" JSC Rauf Veliyev speaking at a meeting on the results of 2014.

According to him, in 2014 due to the internal capacity of the Company and with the support of the state, 1 tanker, 3 supply vessels and towing vessels, 2 cargo ship were purchased, as well as 3 passenger vessels were ordered from Baku Shipyard.

Chairman of the society also talked about plans for the following years:

"Our main objective is to obtain an international certificate İSO in quality, health, labor protection, environmental protection. We need to complete the second phase of construction of the shipyard "Zikh".

Regarding the updates of flotilla, it is scheduled to receive3 passenger vessel ordered from Baku Shipyard before May 2016, as well as to launch the construction of ships, envisaged by the State program for the development of the shipping company in 2015-2020," Rauf Veliyev said.

News.Az - Azerbaijan to build three more ships

 

[Azeri440]

AIIB founding members rise to 57

Sweden, Israel, South Africa, Azerbaijan, Iceland, Portugal and Poland have been approved as prospective founding members of the Asian Infrastructure Investment Bank (AIIB), China's Ministry of Finance said on Wednesday.

The latest approval brings the number of prospective founders to 57, the ministry said.

Productive negotiations have been held among the prospective founders on the new bank's draft rules, according to official sources. The rules are expected to be finalized and signed in the middle of the year after a final session planned for May.

With an authorized capital of $100 billion, the AIIB aims at spurring investment in Asian energy, transportation, telecommunications and other infrastructures.

The bank is expected to be set up at the end of this year.

AIIB founding members rise to 57 - China.org.cn

 

[Azeri440]

MINISTRY OF TAXES IN AZERBAIJAN

The new 170-meter-tall building of the Ministry of Taxes is composed of five twisting cubes of different sizes standing on podiums. The building boasts a unique geometric design due to its twisting forms and progressive building services. The sophisticated architecture and modern building services make the Ministry of Taxes a landmark project in Azerbaijan.

Renaissance provided its design services and conducted ground survey and test piling works.

 

[-SINAN-]

MINISTRY OF TAXES IN AZERBAIJAN

The new 170-meter-tall building of the Ministry of Taxes is composed of five twisting cubes of different sizes standing on podiums. The building boasts a unique geometric design due to its twisting forms and progressive building services. The sophisticated architecture and modern building services make the Ministry of Taxes a landmark project in Azerbaijan.

Renaissance provided its design services and conducted ground survey and test piling works.


View attachment 217483

Renaissance as in "Renaissance Construction" ? Renaissance Construction

 

[Azeri440]

Renaissance as in "Renaissance Construction" ? Renaissance Construction

yep

MINISTRY OF TAXES IN AZERBAIJAN

 

[Azeri440]

Azerbaijan State Oil Fund financed more than 50% of cost of building a unique rig in Caspian Sea

The State Oil Fund of Azerbaijan (SOFAZ) is advancing in the construction of a unique semi-submersible drilling rig in Baku.

At today’s press conference SOFAZ executive director Shahmar Movsumov has stated that SOFAZ had already completed spending of more than half of the funding for this project.

"$1.1 bn will be allocated for its financing. The rig will be ready and put into operation as early as next year. This is a very interesting project, there are many who want to participate in it. It can be said that there is even a queue for operation of this rig," Movsumov said.

On 4 June 2013 SOCAR signed a contract with Keppel Fells for construction of the rig in Baku.

“According to our estimates, offshore drilling operations for SOCAR and other companies demand 4 similar rigs, and we’ve already started talks with Keppel Fells about the contract for the construction of the second rig. We assume that the second rig will be built in parallel with the first rig construction to last for 41 months until the end of the 4th quarter of 2016," Abdullayev said then.

The construction is carried out under the operatorship of Keppel Fells, and BOS Shelf and Caspian Shipyard Company are the project participants.

"The first rig will help us to conduct drilling at deep part of field Umid and Babak structure. The second rig will be used at gas field Absheron discovered by Total,” Abdullayev said.

The first rig will allow carry out exploratory drilling at sea depth of 75 up to 1,025 m. The depth of the well itself may be up to 9,144 m.

The rig construction project participants are SOCAR, Russia’s LUKOIL and company Keppel Fells.

Earlier SOCAR president Rovnag Abdullayev announced his Company’s plans to construct four new rigs within 5 years and invest about $4 bn in the project. The new rigs will be of reinforced class, as they will operate at large depth.

Azerbaijan State Oil Fund financed more than 50% of cost of building a unique rig in Caspian Sea - ABC.AZ

 

[denel]

Dude Azeri440
Man your big money holdeers are people who are your deepstate. Just as rockfelleer or rotchild of israel (USA). These guys will buy weapons in case. So their money is your republics money. Their wasted money is your future's money.

Buildings can attract people i agree but what are costs and looses? I dont know.
In my geneeral opinion. You should send mining students abroad and bring em back to make a mining map for our (azerbaycan) land. THen they find that most of mine is lets say azerbaycanium(i randomized). First find a way to use this azerbaycanium in buildings. Then bring construction pupils back. Let em make a building. By this way this will cost to you only eneryg. Rest will be your money. Petrol (energy) is unlimited for you. Try not to loosee any money at any section of economy.
And best of all export your technology.

very well put. squandering of public funds that boosts a few elite pockets and benefits none of the masses.

 

[Azeri440]

very well put. squandering of public funds that boosts a few elite pockets and benefits none of the masses.

actually , Khazar Islands among others are privately financed
if you scroll up , you can see the recent investment of 12.5$ billion from Chinese companies
government doesn't put any money into these projects.