BAKU, Azerbaijan, November 4. Some 330 million manat ($194.1 million) will be allocated to finance the reconstruction and modernization project at the Heydar Aliyev Baku Oil Refinery in 2023, Trend reports via the draft law "On the state budget for 2023".
According to the document, in general, 9.620 billion manat ($5.658 billion) are forecast to be provided for financing capital expenditures in 2023.
Under the project on modernization and reconstruction of the Heydar Aliyev Refinery, intensive repair and construction work are currently being carried out in order to increase production capacity, ensure the supply of Euro-5 fuel in the country, minimize environmental impact, ensure uninterrupted supply of raw materials to the Azerikimya production association and increase the potential for exporting petroleum products.
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