Business news

MINSK, 19 November (BelTA) – The possibility of the State Oil Company of the Azerbaijan Republic (SOCAR) investing in the modernization of OAO Grodno Azot is being discussed. Belarus President Alexander Lukashenko made the statement as he met with his Azerbaijani counterpart Ilham Aliyev on 19 November, BelTA has learned.

Alexander Lukashenko said: “You’ve recently built an oil-processing complex in Turkey. We would be glad to welcome Azerbaijani investors in Belarus and are ready for serious interaction in strategic industries. The possibility of the State Oil Company of the Azerbaijan Republic investing in the modernization of OAO Grodno Azot is being discussed.”

“We welcome such aspirations,” noted Alexander Lukashenko.

Apart from that, the Belarus president said he believes there is a considerable reserve in the area of transportation and logistics. He mentioned transportation by rail as part of the efforts to create an international transport corridor North-South and the Silk Road Economic Belt as examples. “One way or another you [Azerbaijan] are already involved in these projects,” he added.