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Monday, April 30, 2007

Azerbaijan negotiates with IDB over oil terminal

30 April 2007 [10:27] - Today.Az - Azersun Holding and Azerbaijan Investment Company are considering construction of a new oil terminal in Garadagh, near Baku. Azersun Holding President Abdulbari Gozel said the project is to be financed by the Islamic Development Bank. "We are carrying out technical and economic assessment of the project at present. Negotiations with the IDB are ongoing. The project will likely cost around $100 million," he added.

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