The financing plan consists of a combination of equity, direct funding, export credit agency (ECA) covered debt and commercial bank debt, primarily from Asian and European companies and institutions, according to the message.
“The engineering procurement and construction (EPC) selection process is underway. Financial close is targeted for the end of 2017,” reads the message.
The GPC project envisages construction of gas processing and petrochemical plants 15 km away from Baku by the Azerbaijani state oil company SOCAR.
The cost of the project is around $4 billion.
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