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Sovereign Wealth Funds Briefing - Categorized | Financials

SOCAR to draw bank funds for Turkey projects from March 2014

Posted on 21 June 2013

Azerbaijan’s state energy company SOCAR will proceed in making major investment in the projects in Turkey next spring, SOCAR Vice President Suleyman Gasimov told Trend news agency on June 19.
“Work with export-import banks are in the final stage. We plan to start attracting funds of the banks in March next year. Prior to that, we will use both internal funds and funds of the State Oil Fund of Azerbaijan. Currently, a large amount of money is required. We plan to spend up to $1 billion by the end of 2013,” Gasimov said………………………………………..Full Article: Source


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