SOFAZ Spends $162 Million USD for Irrigation, New Water Supply

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BAKU, Azerbaijan

The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has transferred some $3.1 billion USD to the state budget in 2009, of which $85 million USD will be used to finance reconstruction of the Samur-Absheron irrigation system and construction of the Oghuz-Gabala-Baku water supply system. Speaking at a July 24 press conference, SOFAZ Executive Director Shahmar Movsumov said