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SOCAR Group borrows 419 million manats this year

09 July 2018 12:23 (UTC +04:00)

In March 2018, SOCAR Group borrowed AZN 102 million ($60 million) and AZN 98 million from Finance Ministry for short-term and long-term period.

APA-Economics reports citing to SOCAR’s audited financial statements that SOCAR Group has also borrowed AZN 16 million (GEL 239 million) and AZN 16 million (GEL 24 million) from Georgian banks for short-term and long-term period.

Moreover, SOCAR Group borrowed AZN 47 million (EUR 23 million) from international banks for Carbamide Plant.

So, SOCAR’s total loans this year amounted to AZN 419 milion.

At the same time, repaid AZN 417 million ($245 million), AZN 6 million (EUR 3 million), AZN 187 million (GEL 271 million) and AZN 65 million ($38 million) to SOFAZ.