Baku, August 13 (AzerTAc). State Oil Company of the Azerbaijani Republic (SOCAR) and the U.S. Trade and Development Agency (USTDA) signed a $572,068 grant agreement today. The agreement was signed by SOCAR president Rovnag Abdullayev and USTDA Executive Director David Hester.
Under the agreement, SOCAR will begin to create a modern center for wastes and announce a tender among foreign consulting firms for this purpose.
During the signing ceremony, SOCAR president spoke of the existing ties between SOCAR and USTDA, saying the signed agreement would contribute to further boosting ties between the two countries.
“SOCAR realizes a number of ecological projects, particularly, projects on soil and industrial water treatment, so, the company need a new center of wastes which will process, collect and liquidate the industrial waste. USTDA is rendering great assistance to implementing the project on waste handling and this grant will be directed towards development of the feasibility study and project.
The center, meeting international standards, will be established in a short term. It will facilitate the realization of ecological projects in future in term of storing wastes. At present, SOCAR has a center of waste, which has been functioning since 1985, but physically and morally outdated," Abdullayev said.
In his turn, USTDA Executive Director David Hester said the Company he represented always had a high interest to cooperate with Azerbaijan, including SOCAR.
“We will further assist SOCAR to implement new ecological projects in the country,” he added.