OREANDA-NEWS. January 24, 2008. Economic dividends induced by the economic development conception of great leader Heydar Aliyev and led by the President Ilham Aliyev promote restorations and renovations, as well as reforms in different spheres. Economic reforms and enhancement of existing potentials paves the way for substantial economic growth. Today both Baku and regions are developing rapidly. SOCAR actively participate in these development processes. SOCAR successfully achieved to follow the instructions envisaged in “Action Plan for the accelerating economic-social development in the settlements of Baku” which was ratified by the Order of the President of Azerbaijan Republic issued on February 11, 2006.

SOCAR bears great responsibility in this regard, and the company stimulates its social-economic activities. As a result of activities carried out within the framework of this program, tremendous transformations occurred in the socio-economic life of the settlements of the capital city and surrounding regions. Thus, the infrastructure of those areas restored again. During 2006 and 2007 SOCAR carried out repair in Zabrat-1 settlement to deal with a breakdown of buildings. The roofs and stairs of the buildings № 24, 25, 26, 44 and 46 in October Street were completely renovated in compliance with the order of Social Development Unit of SOCAR. In addition, the roofs and facades of the buildings № 28 and 39 in the same street, the buildings № 33 and 35 in Akhundov Street, the building № 90 in Babak Street and the building № 12 in Narimanov Street were completely renovated. Also, one-store and four-apartment building in 29 Akhundov Street, one-store and one-apartment buildings in 9 Babak Street and 3a Narimanov Street, and two-store, four-apartment building in 43 a October Street were knocked down and rebuilt again. One-store, 33-apartment building in 68 Babak Avenue and one-store, 34-apartment building in 4 Narimanov Street were replaced with 2-store, 33-apartment and 2-store, 34-apartment buildings. All needs of the buildings were met for residential use.