Today.Az » Business » EBRD lends $120 mln to build methanol plant in Azerbaijan
02 December 2009 [15:27] - Today.Az
On Dec. 1, the European Bank for Reconstruction and Development (EBRD) and Azerbaijan Methanol Company (AZMECO) signed a $120 million loan agreement at a ceremony attended by former British Prime Minister Tony Blair, representatives of Azerbaijan’s government and members of Parliament.
According to AZMECO Board Chairman Nizami Piriyev, the company plans to build $1.1 billion worth of 6 plants in the country.
All the plants are scheduled to be put into operation by 2013.
The total cost of the project is $330 million.
/AzerTaj/
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