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[BUSINESS] · Azerbaijan, Italy, Saudi Arabia · 5 sources

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Azerbaijan advances reconstruction and economic transformation initiatives

During the 6th International 'Rebuild Karabakh' exhibition, President Ilham Aliyev highlighted the ongoing reconstruction efforts in Karabakh and East Zangezur. He noted that 25.5 billion manat has been allocated from the state budget for these purposes. To date, over 300,000 hectares have been cleared of mines, and approximately 40,000 people have returned to 47 residential areas, with nearly 100,000 people currently living and studying in the liberated territories.

Economic development is also a key focus, with the Ministry of Economy discussing a project to desalinate Caspian Sea water. A consortium led by Saudi Arabia’s ACWA Power is in negotiations with international financial institutions to build a plant capable of producing 300,000 cubic meters of drinking water daily. This project is expected to be completed within two and a half years and will not affect current water tariffs.

Additionally, First Deputy Minister of Economy Elnur Aliyev announced that transformation roadmaps have been prepared for 18 local enterprises to support digital and green transitions. Meanwhile, Italian Ambassador Luca Di Gianfrancesco expressed Italy’s readiness to provide engineering expertise and energy-efficient solutions for Azerbaijan’s infrastructure and reconstruction projects.

Entities

AK Party · Acwa Power · Azerbaijan · Elnur Aliyev · Ilham Aliyev · Justice and Development Party · Luca Di Gianfrancesco · Milli Majlis · Oktay Saral · Turkey