BAKU, Azerbaijan, January 23. Cooperation with
BlackRock opens new opportunities for Azerbaijan's digital,
infrastructure, and energy transformation, the famous Azerbaijani
economic expert, Ingilab Ahmadov, told Trend.
He made the remark commenting on the signing of a protocol on
strategic cooperation between the State Oil Fund of Azerbaijan
(SOFAZ), BlackRock, the world's largest asset management company,
and its affiliated structure Global Infrastructure Partners (GIP)
with planned investments of up to $1.5 billion in infrastructure
and digital projects.
The expert said that this fully aligns with Azerbaijan's
priorities, which are outlined in all strategic documents.
According to him, the tasks related to digitalization, the
development of artificial intelligence, and all related fields
fully correspond to the priorities of this cooperation.
"Therefore, such cooperation is to some extent expected and is
very promising. It is symbolic that this priority is enshrined in
the memorandum of understanding with BlackRock.
Azerbaijan began working with this company last year. In
October, the first assets of SOFAZ were invested in Gatwick Airport
in the UK for 50 million pounds through BlackRock and its
affiliated company, Digital Infrastructure Platform (DIP). The
project was successful, and this year the relationship was
formalized as strategic, with the goal of investing through this
fund in various promising projects, including the development of
artificial intelligence and automation," said Ahmadov.
He noted that the planned investment amount of up to $1.5
billion is significant.
According to the expert, such large investments are not only
economically advantageous but also reflect the political-economic
and geopolitical aspects.
"Today, Azerbaijan is successfully utilizing these favorable
conditions," he noted.
"Cooperation in the field of airport infrastructure and asset
management is considered a priority, as it can significantly impact
the modernization of the transport sector and Azerbaijan's
integration into global logistical infrastructure chains.
Similar to digital projects, investments and partnerships in
transport infrastructure align with the country's national
priorities and strategic goals, including the development of the
Middle Corridor, the Alat Port, the East-West Corridor, and the
Zangezur Corridor, which have global significance. Such interaction
allows for increased transportation efficiency, improved service
quality, and strengthens Azerbaijan's role as a key transit hub
between Europe and Asia," he added.
Ahmadov highlighted that the first joint project with BlackRock
at Gatwick Airport was successful and confirmed the correctness of
the chosen approach to investments and partnership.
"Working with the largest international investment company,
whose assets exceed $14 trillion, has not only commercial but also
geopolitical significance. This strengthens Azerbaijan's reputation
as a key player in the region," he emphasized.
The expert said that due to the global energy transition, more
attention is being paid to renewable energy projects, including
large regional initiatives. Azerbaijan sets ambitious goals:
connecting through the Caspian Sea, the Black Sea, and underwater
cables to Europe.
"Cooperation with BlackRock opens up opportunities for joint
investments in renewable energy, transit energy, and infrastructure
beyond the traditional oil and gas sector. This direction is
profitable both from a commercial standpoint and in terms of
prestige, as it helps achieve energy transition goals. Today,
investments in renewable energy worldwide already surpass those in
traditional oil and gas, creating new opportunities for
Azerbaijan," concluded Ahmadov.
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