OREANDA-NEWS. May 24, 2010. SOCAR and American Company MI LLC signed a contract for the preparation of a feasibility study for the establishment of SOCAR centre for waste management system under the grant allocated by US Trade and Development Agency at the Head office of the Company. Opening the conference, SOCAR vice-president on ecological issues Mr. Soltan Aliyev pointed out the works carried out for improvement of ecological condition in the country, environmental protection, and for creating a healthy living environment and mentioned SOCAR role in this connection.

The measures taken by SOCAR contributes to quick solutions of problems occurred in fields, Azerbaijani sector of the Caspian Sea and increase of life standard of the population. In this connection reconstruction of industrial waste management system should correspond to the cutting-edge technology. MI LLC Vice president Mr. Sven Maikranz stressed the responsibility of his company in this connection. According to him, the company has the best experts by adding that the project will be mainly focused on waste recycling.

Afterwards, Mr. Soltan Aliyev and Mr. Sven Maikranz signed the agreement on the preparation of a feasibility study for the reconstruction of SOCAR centre for waste recycling and establishing waste management system. The preparation of the feasibility study envisages choosing appropriate technologies for processing of waste formed as a result of activity of SOCAR's enterprises and institutions, specifying the present waste recycling speheres in the country and defining the cooperation opportunities with them, estimating the profit to be gained from the waste management, and other issues. SOCAR and U.S. Trade and Development Agency singed a grant agreement on August 13, 2009.