About $500 mln foreign capital will be invested in the Khazar Islands
project, realized in Azerbaijan. President of Avesta concern Haji
Ibrahimov said that Khazar Islands leadership held meetings with
investors in Dubai and Istanbul in October.
‘As a result of the
talks, several businessmen decided to join the project and next week,
they will arrive in Baku. The project is especially interesting for the
joint company comprising entrepreneurs from Greece, Saudi Arabia, Dubai
and Egypt. This company has realized the construction of several hotels
in Dubai and Middle East. The company intends to invest at least $200
mln to the project’.
Also an initial agreement reached on
investing of 50 mln euros in Khazar Islands project. The contract with
this company is expected to sign in the coming days. The company will
finance the construction of 6 buildings or 200,000 sq. mt area.
present, negotiations are underway with potential investors. Soon, one
of Saudi Arabia’s prince will visit Baku to discuss possible
participation in the project. Moreover, in November, PSG company of
Czech Republic, Chinese Eximbank, some Turkish and Dubai Banks and
representatives of companies will arrive in Baku to conduct talks’,
Khazar Islands will cover 3,000 ha area. It will
consist of 41 different sized islands and 19 districts. The archipelago
will cover 24 sq/km by 8km in length and 3km in width. Total length of
the line of boulevard islands will be 50 km. The project will cost $100